Meta Platforms, Inc. (NASDAQ:META) Position Boosted by Smith Thornton Advisors LLC

Smith Thornton Advisors LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,112 shares of the social networking company’s stock after purchasing an additional 200 shares during the quarter. Meta Platforms accounts for 1.5% of Smith Thornton Advisors LLC’s holdings, making the stock its 23rd biggest position. Smith Thornton Advisors LLC’s holdings in Meta Platforms were worth $2,408,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in META. 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. LS Investment Advisors LLC lifted its position in shares of 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 valued at $6,686,000 after acquiring an additional 6,155 shares in the last quarter. Cutter & CO Brokerage Inc. boosted its stake in Meta Platforms by 0.7% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after purchasing an additional 65 shares during the period. Janney Montgomery Scott LLC grew its position in Meta Platforms by 1.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock worth $235,872,000 after purchasing an additional 5,594 shares in the last quarter. Finally, M&G PLC grew its position in Meta Platforms by 14.6% during the 3rd quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock worth $412,606,000 after purchasing an additional 91,773 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META stock opened at $611.30 on Friday. Meta Platforms, Inc. has a 1 year low of $358.61 and a 1 year high of $638.40. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm’s 50 day moving average is $595.92 and its 200-day moving average is $555.25. The firm has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 28.79, a PEG ratio of 1.22 and a beta of 1.19.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. 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 dividend payout ratio (DPR) is presently 9.42%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Truist Financial raised their target price on Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. TD Cowen lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Jefferies Financial Group increased their price target on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Bank of America raised their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $650.05.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total transaction of $520,103.50. Following the sale, the insider now owns 32,387 shares of the company’s stock, valued at $18,612,808.90. The trade was a 2.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 496,174 shares of company stock worth $301,408,499 in the last quarter. 13.71% of the stock is owned by company insiders.

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.