Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by CV Advisors LLC

CV Advisors LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 195.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,530 shares of the social networking company’s stock after purchasing an additional 5,641 shares during the quarter. Meta Platforms makes up 1.7% of CV Advisors LLC’s holdings, making the stock its 8th biggest position. CV Advisors LLC’s holdings in Meta Platforms were worth $4,994,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after purchasing an additional 698,884 shares during the period. Jennison Associates LLC increased its position in shares of Meta Platforms by 1.9% in the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after purchasing an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Meta Platforms by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock worth $8,344,552,000 after purchasing an additional 424,201 shares during the period. Franklin Resources Inc. increased its position in shares of Meta Platforms by 2.8% in the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock worth $4,101,602,000 after purchasing an additional 186,728 shares during the period. Finally, Fisher Asset Management LLC grew its position in Meta Platforms by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock valued at $3,908,382,000 after acquiring an additional 110,040 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $607.50, for a total transaction of $369,360.00. Following the transaction, the chief operating officer now owns 7,446 shares of the company’s stock, valued at $4,523,445. This represents a 7.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 10,100 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $601.54, for a total value of $6,075,554.00. The disclosure for this sale can be found here. Insiders sold 632,023 shares of company stock worth $414,734,884 in the last quarter. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Up 0.3 %

NASDAQ META opened at $584.06 on Thursday. The company has a market cap of $1.48 trillion, a price-to-earnings ratio of 24.42, a P/E/G ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The business has a 50 day moving average price of $656.27 and a 200-day moving average price of $604.69. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the company earned $5.33 earnings per share. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is 8.78%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Truist Financial lifted their target price on Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Citigroup lifted their target price on Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. The Goldman Sachs Group lifted their target price on Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Susquehanna lifted their target price on Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research report on Thursday, January 30th. Two equities research 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $718.31.

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.