Nemes Rush Group LLC Acquires 1,348 Shares of Meta Platforms, Inc. (NASDAQ:META)

Nemes Rush Group LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,126 shares of the social networking company’s stock after buying an additional 1,348 shares during the quarter. Meta Platforms comprises 2.1% of Nemes Rush Group LLC’s investment portfolio, making the stock its 11th largest position. Nemes Rush Group LLC’s holdings in Meta Platforms were worth $17,054,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. JDM Financial Group LLC purchased a new position in Meta Platforms during the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $36,000. Millstone Evans Group LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at about $40,000. Avondale Wealth Management bought a new position in Meta Platforms in the fourth quarter worth about $41,000. Finally, WealthTrak Capital Management LLC purchased a new stake in Meta Platforms in the fourth quarter worth about $43,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $576.36 on Tuesday. The stock has a market cap of $1.46 trillion, a P/E ratio of 24.10, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock’s fifty day moving average is $654.50 and its 200 day moving average is $610.25. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 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 period in the prior year, the company earned $5.33 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

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

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 8,553 shares of the company’s stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the transaction, the chief financial officer now owns 51,793 shares of the company’s stock, valued at $38,154,349.31. This represents a 14.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $612.10, for a total value of $252,797.30. Following the sale, the chief operating officer now directly owns 17,101 shares in the company, valued at $10,467,522.10. This trade represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 583,505 shares of company stock valued at $385,495,911 over the last three months. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on META. Barclays upped their target price on Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Truist Financial increased their price objective on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Raymond James restated a “strong-buy” rating and set a $800.00 target price (up previously from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Oppenheimer increased their price target on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Finally, JMP Securities reissued a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a research note on Monday, January 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $718.55.

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.