Lebenthal Global Advisors LLC Purchases 230 Shares of Meta Platforms, Inc. (NASDAQ:META)

Lebenthal Global Advisors LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,590 shares of the social networking company’s stock after purchasing an additional 230 shares during the quarter. Meta Platforms comprises 0.8% of Lebenthal Global Advisors LLC’s holdings, making the stock its 23rd biggest position. Lebenthal Global Advisors LLC’s holdings in Meta Platforms were worth $4,444,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in META. Lindenwold Advisors INC boosted its stake in Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after acquiring an additional 17 shares during the last quarter. Insight Wealth Strategies LLC boosted its position in shares of Meta Platforms by 1.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock worth $625,000 after purchasing an additional 17 shares during the last quarter. Steigerwald Gordon & Koch Inc. grew its stake in shares of Meta Platforms by 0.6% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock worth $1,569,000 after purchasing an additional 17 shares during the period. Central Valley Advisors LLC grew its stake in shares of Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after purchasing an additional 18 shares during the period. Finally, Cherrydale Wealth Management LLC lifted its stake in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after buying an additional 18 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Up 1.6 %

Shares of NASDAQ META opened at $687.00 on Friday. Meta Platforms, Inc. has a 52-week low of $387.10 and a 52-week high of $710.79. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company’s 50 day moving average price is $611.00 and its 200-day moving average price is $564.44. The company has a market capitalization of $1.73 trillion, a P/E ratio of 32.36, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. During the same quarter in the previous year, the company earned $5.33 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analyst Ratings Changes

A number of analysts have recently commented on META shares. UBS Group upped their price target on Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a research note on Thursday. Barclays increased their target price on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a report on Thursday. Rosenblatt Securities restated a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a research report on Monday. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus increased their price target on Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $706.76.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $562.77, for a total value of $232,424.01. Following the sale, the chief operating officer now owns 19,579 shares of the company’s stock, valued at approximately $11,018,473.83. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 661,804 shares of company stock worth $407,745,741 in the last quarter. 13.71% of the stock is owned by corporate insiders.

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.