American Money Management LLC Has $6.95 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

American Money Management LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 141.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,868 shares of the social networking company’s stock after acquiring an additional 6,952 shares during the quarter. Meta Platforms makes up approximately 1.4% of American Money Management LLC’s investment portfolio, making the stock its 24th largest position. American Money Management LLC’s holdings in Meta Platforms were worth $6,949,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms in the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms during the third quarter worth $36,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms in the fourth quarter valued at $40,000. Avondale Wealth Management bought a new position in shares of Meta Platforms in the 4th quarter valued at about $41,000. Finally, WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $43,000. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $589.16, for a total transaction of $243,323.08. Following the completion of the transaction, the chief operating officer now owns 17,514 shares of the company’s stock, valued at approximately $10,318,548.24. This trade represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,553 shares of the business’s stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the sale, the chief financial officer now directly owns 51,793 shares in the company, valued at approximately $38,154,349.31. This represents a 14.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 584,823 shares of company stock worth $386,274,777. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 4.3 %

Shares of Meta Platforms stock opened at $576.74 on Friday. The firm’s 50 day moving average is $655.23 and its 200 day moving average is $609.21. The firm has a market capitalization of $1.46 trillion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the previous year, the firm earned $5.33 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Wall Street Analyst Weigh In

A number of research firms recently commented on META. Cantor Fitzgerald lifted their price target on Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Wolfe Research lifted their target price on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. DA Davidson increased their price target on Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. JMP Securities reaffirmed a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a research report on Monday, January 27th. Finally, Piper Sandler increased their price objective on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $718.31.

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.