Meta Platforms, Inc. (NASDAQ:META) Position Increased by Elevated Capital Advisors LLC

Elevated Capital Advisors LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 50.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,939 shares of the social networking company’s stock after buying an additional 647 shares during the period. Elevated Capital Advisors LLC’s holdings in Meta Platforms were worth $1,135,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares during the last quarter. Jennison Associates LLC raised its holdings in Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after buying an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in 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 valued at $7,915,451,000 after buying an additional 118,298 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Meta Platforms by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after acquiring an additional 208,677 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the transaction, the chief financial officer now directly owns 51,591 shares of the company’s stock, valued at $29,776,261.56. The trade was a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 423,427 shares of company stock worth $256,996,450. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 1.2 %

Shares of META stock opened at $608.33 on Tuesday. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 28.65, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19. Meta Platforms, Inc. has a 1 year low of $358.61 and a 1 year high of $638.40. The firm’s fifty day simple moving average is $594.58 and its 200 day simple moving average is $554.18. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

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

Meta Platforms Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group upped their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group raised their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Stifel Nicolaus upped their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Barclays raised their price objective on Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird upped their target price on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $650.05.

Meta Platforms Company 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.