Andar Capital Management HK Ltd Buys Shares of 13,000 Meta Platforms, Inc. (NASDAQ:META)

Andar Capital Management HK Ltd bought a new stake in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, HoldingsChannel.com reports. The fund bought 13,000 shares of the social networking company’s stock, valued at approximately $4,601,000. Meta Platforms comprises 6.5% of Andar Capital Management HK Ltd’s holdings, making the stock its 6th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in META. Concord Wealth Partners raised its holdings in Meta Platforms by 10.2% during the fourth quarter. Concord Wealth Partners now owns 8,496 shares of the social networking company’s stock worth $3,007,000 after purchasing an additional 788 shares in the last quarter. DiNuzzo Private Wealth Inc. bought a new stake in Meta Platforms during the fourth quarter worth approximately $45,000. Essex Financial Services Inc. raised its holdings in Meta Platforms by 5.7% during the fourth quarter. Essex Financial Services Inc. now owns 13,246 shares of the social networking company’s stock worth $4,689,000 after purchasing an additional 720 shares in the last quarter. ICW Investment Advisors LLC raised its holdings in Meta Platforms by 14.6% during the fourth quarter. ICW Investment Advisors LLC now owns 976 shares of the social networking company’s stock worth $346,000 after purchasing an additional 124 shares in the last quarter. Finally, Berry Wealth Group LP bought a new stake in Meta Platforms during the fourth quarter worth approximately $414,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META traded up $18.54 during mid-day trading on Wednesday, hitting $448.71. 15,480,944 shares of the company traded hands, compared to its average volume of 18,388,355. Meta Platforms, Inc. has a one year low of $229.85 and a one year high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average of $492.83 and a 200 day moving average of $406.97. The stock has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 24.87, a PEG ratio of 1.12 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, equities analysts expect that Meta Platforms, Inc. will post 20.17 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. Meta Platforms’s payout ratio is presently 11.49%.

Wall Street Analyst Weigh In

Several research firms have issued reports on META. Canaccord Genuity Group dropped their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Oppenheimer dropped their price target on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Sanford C. Bernstein cut their target price on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Bank of America boosted their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Finally, Morgan Stanley boosted their target price on shares of Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $509.18.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 34,398 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $457.52, for a total value of $15,737,772.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $441.54, for a total value of $216,354.60. Following the sale, the chief operating officer now directly owns 6,599 shares in the company, valued at $2,913,722.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 34,398 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $457.52, for a total transaction of $15,737,772.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,257,291 shares of company stock valued at $612,916,087. 13.71% of the stock is currently owned by insiders.

About Meta Platforms

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.