SwitchPoint Financial Planning LLC Acquires Shares of 360 Meta Platforms, Inc. (NASDAQ:META)

SwitchPoint Financial Planning LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 360 shares of the social networking company’s stock, valued at approximately $211,000.

A number of other large investors have also made changes to their positions in the stock. JDM Financial Group LLC acquired a new stake in Meta Platforms during the third quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms in the 3rd quarter valued at approximately $36,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $40,000. Avondale Wealth Management purchased a new stake in Meta Platforms in the fourth quarter valued at approximately $41,000. Finally, Cordant Inc. acquired a new position in Meta Platforms during the fourth quarter worth $59,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

META has been the topic of a number of recent research reports. Cantor Fitzgerald boosted their price target on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Raymond James reiterated a “strong-buy” rating and set a $800.00 target price (up from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Tigress Financial restated a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Morgan Stanley upped their price objective on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Pivotal Research lifted their target price on Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $718.31.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $610.98 on Thursday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.55 trillion, a price-to-earnings ratio of 25.54, a PEG ratio of 1.42 and a beta of 1.23. The company’s 50-day moving average price is $656.12 and its 200 day moving average price is $608.02. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week 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 analysts’ consensus estimates 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 previous year, the firm posted $5.33 earnings per share. As a group, 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 announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms’s payout ratio is presently 8.78%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of Meta Platforms stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the transaction, the chief financial officer now owns 51,793 shares in the company, valued at $38,154,349.31. This trade represents a 14.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 2,311 shares of the company’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $600.21, for a total value of $1,387,085.31. The disclosure for this sale can be found here. In the last three months, insiders sold 586,213 shares of company stock worth $387,084,349. Insiders own 13.71% of the company’s stock.

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.