Miracle Mile Advisors LLC Raises Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Miracle Mile Advisors LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 17.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,528 shares of the social networking company’s stock after purchasing an additional 7,369 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Meta Platforms were worth $28,414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of META. Northstar Advisory Group LLC boosted its position in shares of Meta Platforms by 63.0% during the 4th quarter. Northstar Advisory Group LLC now owns 7,525 shares of the social networking company’s stock valued at $4,406,000 after acquiring an additional 2,909 shares during the last quarter. Conrad Siegel Investment Advisors Inc. lifted its position in Meta Platforms by 1.7% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 1,735 shares of the social networking company’s stock valued at $1,016,000 after purchasing an additional 29 shares during the last quarter. Horizon Wealth Management LLC grew its stake in Meta Platforms by 2.8% in the 4th quarter. Horizon Wealth Management LLC now owns 1,740 shares of the social networking company’s stock worth $1,019,000 after buying an additional 47 shares in the last quarter. Sunflower Bank N.A. increased its holdings in shares of Meta Platforms by 6.6% in the 4th quarter. Sunflower Bank N.A. now owns 2,859 shares of the social networking company’s stock worth $1,674,000 after buying an additional 177 shares during the last quarter. Finally, Burns J W & Co. Inc. NY raised its position in shares of Meta Platforms by 3.1% during the 4th quarter. Burns J W & Co. Inc. NY now owns 17,476 shares of the social networking company’s stock valued at $10,233,000 after buying an additional 521 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

Shares of META opened at $608.33 on Tuesday. Meta Platforms, Inc. has a 52 week low of $358.61 and a 52 week high of $638.40. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.54 trillion, a P/E ratio of 28.65, a P/E/G ratio of 1.36 and a beta of 1.19. The business’s 50 day moving average price is $594.58 and its 200-day moving average price is $554.18.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities research analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. BMO Capital Markets upped their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt raised their price objective on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Citigroup upped their target price on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Thursday, October 31st. Finally, JMP Securities upped their price objective on shares of Meta Platforms from $660.00 to $750.00 and gave the company a “market outperform” rating in a research note on Thursday, January 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to 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 related news, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $553.48, for a total value of $4,038,190.08. Following the transaction, the insider now directly owns 38,695 shares of the company’s stock, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 423,427 shares of company stock worth $256,996,450. Corporate insiders own 13.71% of the company’s stock.

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.