Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its position in Meta Platforms, Inc. (NASDAQ:META) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 153,742 shares of the social networking company’s stock after buying an additional 10,410 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Meta Platforms were worth $90,018,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of META. Proficio Capital Partners LLC grew its holdings in shares of Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock worth $3,658,713,000 after buying an additional 6,240,810 shares in the last quarter. Integrated Investment Consultants LLC boosted its position in Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Meta Platforms during the 4th quarter valued at about $2,243,603,000. Strategic Financial Concepts LLC raised its holdings in Meta Platforms by 87,269.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock valued at $625,125,000 after acquiring an additional 1,066,437 shares during the last quarter. Finally, World Investment Advisors LLC lifted its stake in Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after purchasing an additional 890,434 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of the company’s stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the transaction, the chief operating officer now owns 20,935 shares in the company, valued at approximately $15,422,186.45. This represents a 18.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $602.47, for a total transaction of $545,235.35. Following the completion of the sale, the insider now owns 33,820 shares of the company’s stock, valued at approximately $20,375,535.40. The trade was a 2.61 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 632,023 shares of company stock worth $414,734,884. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Up 0.3 %

META opened at $584.06 on Thursday. The stock has a market capitalization of $1.48 trillion, a P/E ratio of 24.42, a price-to-earnings-growth 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. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The business’s 50-day simple moving average is $656.27 and its 200-day simple moving average is $604.69.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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 return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the company earned $5.33 earnings per share. Analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current 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 given a dividend of $0.525 per share. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Analyst Ratings Changes

META has been the subject of several recent research reports. BMO Capital Markets increased their price target on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Raymond James reiterated a “strong-buy” rating and set a $800.00 price target (up previously from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Citigroup upped their price objective on shares of Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Pivotal Research raised their price objective on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Finally, Susquehanna boosted their target price on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a report on Thursday, January 30th. Two research 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 given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $718.31.

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.