Charter Oak Capital Management LLC Has $320,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Charter Oak Capital Management LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 547 shares of the social networking company’s stock after buying an additional 40 shares during the period. Charter Oak Capital Management LLC’s holdings in Meta Platforms were worth $320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in META. Geode Capital Management LLC increased its holdings in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after acquiring an additional 698,884 shares in the last quarter. Jennison Associates LLC grew its position in Meta Platforms by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after purchasing an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after buying an additional 186,728 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

NASDAQ:META opened at $689.18 on Friday. The stock has a market cap of $1.74 trillion, a P/E ratio of 28.81, a PEG ratio of 1.35 and a beta of 1.19. 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 business’s 50-day moving average price is $613.60 and its two-hundred day moving average price is $565.78. Meta Platforms, Inc. has a twelve month low of $387.10 and a twelve month high of $710.79.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 39.74%. During the same period in the prior year, the company earned $5.33 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 25.44 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.29%. Meta Platforms’s dividend payout ratio is presently 8.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Guggenheim upped their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Raymond James restated a “strong-buy” rating and issued a $800.00 target price (up previously from $725.00) on shares of Meta Platforms in a report on Thursday. Citigroup increased their price target on Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company lifted their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Wolfe Research increased their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $706.76.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the sale, the chief financial officer now directly owns 51,591 shares in the company, valued at approximately $29,776,261.56. The trade was a 14.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total transaction of $511,497.70. Following the completion of the transaction, the insider now owns 30,581 shares in the company, valued at approximately $17,360,833.70. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 661,804 shares of company stock worth $407,745,741 over the last 90 days. Corporate 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.