Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Allen Mooney & Barnes Investment Advisors LLC

Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,326 shares of the social networking company’s stock after acquiring an additional 99 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Meta Platforms were worth $777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. LS Investment Advisors LLC lifted its holdings in Meta Platforms by 111.4% in the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after buying an additional 6,155 shares in the last quarter. Cutter & CO Brokerage Inc. grew its stake in shares of Meta Platforms by 0.7% during the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after acquiring an additional 65 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Meta Platforms by 1.4% during the third quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock worth $235,872,000 after acquiring an additional 5,594 shares during the last quarter. Finally, M&G PLC lifted its stake in shares of Meta Platforms by 14.6% in the third quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock worth $412,606,000 after acquiring an additional 91,773 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $617.12 on Thursday. Meta Platforms, Inc. has a 1 year low of $358.61 and a 1 year high of $638.40. The firm has a market cap of $1.56 trillion, a P/E ratio of 29.07, a PEG ratio of 1.36 and a beta of 1.19. The stock has a fifty day moving average price of $595.02 and a two-hundred day moving average price of $554.81. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Research analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. Meta Platforms’s payout ratio is currently 9.42%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. TD Cowen lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Susquehanna upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $650.05.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $604.69, for a total transaction of $21,721,069.49. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Nicholas Clegg sold 7,296 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the transaction, the insider now owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This trade represents a 15.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 495,682 shares of company stock valued at $301,101,199 over the last ninety days. Insiders own 13.71% of the company’s stock.

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.