Jordan Park Trust Co LLC Buys Shares of 416 Meta Platforms, Inc. (NASDAQ:META)

Jordan Park Trust Co LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 416 shares of the social networking company’s stock, valued at approximately $244,000. Meta Platforms accounts for about 0.2% of Jordan Park Trust Co LLC’s holdings, making the stock its 11th biggest position.

A number of other hedge funds also recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after buying an additional 698,884 shares during the period. Jennison Associates LLC increased its holdings 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 acquiring an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Meta Platforms by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock valued at $8,344,552,000 after acquiring an additional 424,201 shares during the period. Franklin Resources Inc. lifted its holdings in 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 valued at $4,101,602,000 after purchasing an additional 186,728 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Meta Platforms by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock worth $3,908,382,000 after purchasing an additional 110,040 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 4.7 %

NASDAQ:META opened at $590.64 on Friday. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company’s 50-day simple moving average is $657.96 and its 200 day simple moving average is $602.00. The firm has a market capitalization of $1.50 trillion, a P/E ratio of 24.69, a PEG ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 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 period in the previous year, the company posted $5.33 EPS. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Insider Activity

In other news, insider Jennifer Newstead sold 902 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $713.32, for a total transaction of $643,414.64. Following the sale, the insider now owns 27,488 shares in the company, valued at $19,607,740.16. This represents a 3.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $629.56, for a total transaction of $260,008.28. Following the sale, the chief operating officer now directly owns 18,340 shares in the company, valued at approximately $11,546,130.40. The trade was a 2.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 690,689 shares of company stock worth $451,269,409 over the last three months. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Robert W. Baird boosted their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company increased their target price on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. DA Davidson raised their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Piper Sandler upped their price target on shares of Meta Platforms from $670.00 to $775.00 and gave the stock an “overweight” 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 issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $719.26.

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.