Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Private Client Services LLC

Private Client Services LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 31.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,057 shares of the social networking company’s stock after acquiring an additional 497 shares during the quarter. Private Client Services LLC’s holdings in Meta Platforms were worth $1,205,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. JDM Financial Group LLC acquired a new stake in Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms during the third quarter worth approximately $36,000. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms in the third quarter worth $46,000. West Financial Advisors LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at $49,000. Finally, Hoese & Co LLP lifted its holdings in shares of Meta Platforms by 2,000.0% during the 3rd quarter. Hoese & Co LLP now owns 105 shares of the social networking company’s stock valued at $60,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on META shares. Rosenblatt Securities reissued a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research report on Thursday, October 31st. JMP Securities upped their target price on shares of Meta Platforms from $660.00 to $750.00 and gave the company a “market outperform” rating in a research note on Thursday, January 2nd. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Bank of America upped their price objective on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Scotiabank lowered their target price on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $645.80.

Meta Platforms Stock Down 0.9 %

Shares of META traded down $5.45 during trading hours on Wednesday, hitting $612.44. The stock had a trading volume of 6,091,497 shares, compared to its average volume of 11,341,941. The firm has a 50 day simple moving average of $591.41 and a 200-day simple moving average of $551.33. Meta Platforms, Inc. has a 1-year low of $355.36 and a 1-year high of $638.40. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market capitalization of $1.55 trillion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $584.83, for a total value of $241,534.79. Following the transaction, the chief operating officer now directly owns 11,533 shares in the company, valued at $6,744,844.39. The trade was a 3.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total transaction of $22,746,973.25. The disclosure for this sale can be found here. Insiders have sold a total of 361,640 shares of company stock valued at $219,037,690 in the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Profile

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.