Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Tucker Asset Management LLC

Tucker Asset Management LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 27.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 399 shares of the social networking company’s stock after purchasing an additional 85 shares during the period. Tucker Asset Management LLC’s holdings in Meta Platforms were worth $234,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. JDM Financial Group LLC purchased a new position in Meta Platforms during the third quarter valued at $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms during the third quarter worth about $36,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms during the 4th quarter valued at about $40,000. Avondale Wealth Management acquired a new stake in Meta Platforms in the 4th quarter valued at about $41,000. Finally, WealthTrak Capital Management LLC purchased a new position in Meta Platforms in the 4th quarter worth approximately $43,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Down 4.3 %

Shares of NASDAQ:META opened at $576.74 on Friday. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91. The stock’s 50-day moving average price is $655.23 and its two-hundred day moving average price is $608.48. 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 firm has a market cap of $1.46 trillion, a price-to-earnings ratio of 24.11, a PEG ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (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 company posted $5.33 earnings per share. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. This is an increase 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 was Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on META. Oppenheimer upped their price target on Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a report on Monday, January 27th. Robert W. Baird upped their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. BMO Capital Markets lifted their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research note on Thursday, January 30th. Finally, Wedbush reissued an “outperform” rating and issued a $770.00 price target (up previously from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $718.31.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $591.76, for a total value of $535,542.80. Following the completion of the sale, the insider now directly owns 32,915 shares in the company, valued at $19,477,780.40. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 608 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $614.97, for a total value of $373,901.76. Following the completion of the sale, the chief operating officer now owns 6,838 shares of the company’s stock, valued at approximately $4,205,164.86. This trade represents a 8.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 584,823 shares of company stock worth $386,274,777 in the last 90 days. 13.71% of the stock is currently owned by company insiders.

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.