Riversedge Advisors LLC Acquires 98 Shares of Meta Platforms, Inc. (NASDAQ:META)

Riversedge Advisors LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,460 shares of the social networking company’s stock after purchasing an additional 98 shares during the quarter. Riversedge Advisors LLC’s holdings in Meta Platforms were worth $855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Sandbox Financial Partners LLC grew its position in Meta Platforms by 3.8% in the 4th quarter. Sandbox Financial Partners LLC now owns 5,281 shares of the social networking company’s stock worth $3,092,000 after purchasing an additional 191 shares during the period. Veery Capital LLC grew its holdings in shares of Meta Platforms by 3.4% in the fourth quarter. Veery Capital LLC now owns 1,230 shares of the social networking company’s stock worth $720,000 after acquiring an additional 41 shares during the period. Astoria Portfolio Advisors LLC. increased its position in Meta Platforms by 4.0% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 4,884 shares of the social networking company’s stock valued at $2,902,000 after acquiring an additional 187 shares during the last quarter. Ballew Advisors Inc lifted its holdings in Meta Platforms by 5.2% in the fourth quarter. Ballew Advisors Inc now owns 1,664 shares of the social networking company’s stock valued at $1,012,000 after acquiring an additional 82 shares during the period. Finally, Kera Capital Partners Inc. purchased a new position in Meta Platforms in the fourth quarter worth about $622,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $612.77 on Tuesday. Meta Platforms, Inc. has a one year low of $370.95 and a one year high of $638.40. The stock has a market cap of $1.55 trillion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. The business’s fifty day moving average price is $597.37 and its two-hundred day moving average price is $557.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Insider Buying and Selling

In other news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $574.16, for a total transaction of $237,128.08. Following the completion of the sale, the chief operating officer now directly owns 10,707 shares in the company, valued at $6,147,531.12. This represents a 3.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $616.16, for a total value of $22,133,083.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 495,269 shares of company stock worth $300,888,396. 13.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Truist Financial lifted their target price on Meta Platforms from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. JPMorgan Chase & Co. boosted their price objective on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. Sanford C. Bernstein raised their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Susquehanna upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research report on Thursday, October 31st. Finally, Barclays raised their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $650.05.

Meta Platforms 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.