Moment Partners LLC Invests $970,000 in Meta Platforms, Inc. (NASDAQ:META)

Moment Partners LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,657 shares of the social networking company’s stock, valued at approximately $970,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in META. JDM Financial Group LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms during the 3rd quarter worth approximately $36,000. Millstone Evans Group LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $40,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $41,000. Finally, Cordant Inc. bought a new stake in shares of Meta Platforms in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on META. Susquehanna raised their price target on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a report on Thursday, January 30th. Argus set a $775.00 target price on Meta Platforms in a research note on Tuesday, February 4th. The Goldman Sachs Group upped their price target on Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Benchmark raised Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price objective for the company in a research note on Thursday, January 30th. Finally, Raymond James restated a “strong-buy” rating and set a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms 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’s stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $718.31.

Meta Platforms Stock Down 1.4 %

Meta Platforms stock opened at $602.58 on Friday. The firm has a 50 day simple moving average of $655.95 and a 200 day simple moving average of $607.98. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The firm has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating 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 previous year, the firm earned $5.33 earnings per share. On average, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a dividend of $0.525 per share. The ex-dividend date was Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 8.78%.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 8,553 shares of the stock in a transaction on 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 sale, the chief financial officer now owns 51,793 shares in the company, valued at approximately $38,154,349.31. This trade represents a 14.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 5,060 shares of the business’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 $3,727,550.20. Following the transaction, the chief technology officer now owns 5,139 shares of the company’s stock, valued at approximately $3,785,747.13. The trade was a 49.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 584,823 shares of company stock valued at $386,274,777. 13.71% of the stock is currently owned by corporate insiders.

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.