Spirit of America Management Corp NY Acquires 125 Shares of Meta Platforms, Inc. (NASDAQ:META)

Spirit of America Management Corp NY increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,000 shares of the social networking company’s stock after purchasing an additional 125 shares during the period. Spirit of America Management Corp NY’s holdings in Meta Platforms were worth $586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Jennison Associates LLC lifted 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 worth $8,266,531,000 after buying an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after buying an additional 118,298 shares in the last quarter. International Assets Investment Management LLC grew its position 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 valued at $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake 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 worth $4,101,602,000 after acquiring an additional 186,728 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

NASDAQ META opened at $714.52 on Monday. The company has a 50-day moving average price of $627.23 and a 200-day moving average price of $575.09. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $725.01. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.81 trillion, a P/E ratio of 29.87, a PEG ratio of 1.46 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the business earned $5.33 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.28%. Meta Platforms’s dividend payout ratio is currently 8.36%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 12,975 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $706.72, for a total value of $9,169,692.00. Following the completion of the transaction, the chief executive officer now directly owns 172,046 shares in the company, valued at $121,588,349.12. This represents a 7.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 701,146 shares of company stock worth $435,387,895. Corporate insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Raymond James reaffirmed a “strong-buy” rating and issued a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Benchmark upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price target for the company in a research report on Thursday, January 30th. UBS Group lifted their price objective on Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Royal Bank of Canada increased their target price on Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Truist Financial lifted their price target on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two equities research 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $710.83.

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.