Rep. Jared Moskowitz Buys Meta Platforms, Inc. (NASDAQ:META) Shares

Representative Jared Moskowitz (D-Florida) recently bought shares of Meta Platforms, Inc. (NASDAQ:META). In a filing disclosed on December 09th, the Representative disclosed that they had bought between $1,001 and $15,000 in Meta Platforms stock on November 8th. The trade occurred in the Representative’s “MORGAN STANLEY ACTIVE ASSETS (5)” account.

Representative Jared Moskowitz also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Elevance Health (NYSE:ELV) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of QUALCOMM (NASDAQ:QCOM) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of PepsiCo (NASDAQ:PEP) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Tractor Supply (NASDAQ:TSCO) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of McDonald’s (NYSE:MCD) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Alphabet (NASDAQ:GOOG) on 11/8/2024.
• Sold $50,001 – $100,000 in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) on 11/8/2024.
• Sold $15,001 – $50,000 in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) on 11/8/2024.

Meta Platforms Price Performance

Shares of META opened at $619.32 on Wednesday. The stock has a market cap of $1.56 trillion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 1.37 and a beta of 1.20. Meta Platforms, Inc. has a 1-year low of $319.99 and a 1-year high of $629.79. The firm has a fifty day moving average price of $581.32 and a 200 day moving average price of $535.09. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 for the quarter, compared to analyst estimates of $40.21 billion. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Monday, December 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insider Activity

In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, September 13th. The shares were sold at an average price of $520.57, for a total transaction of $214,995.41. Following the completion of the sale, the chief operating officer now directly owns 13,185 shares in the company, valued at approximately $6,863,715.45. The trade was a 3.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,201 shares of company stock worth $95,420,559. 13.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Meta Platforms

A number of institutional investors have recently made changes to their positions in the stock. DGS Capital Management LLC raised its stake in Meta Platforms by 2.7% in the third quarter. DGS Capital Management LLC now owns 12,444 shares of the social networking company’s stock worth $7,124,000 after buying an additional 324 shares in the last quarter. Copley Financial Group Inc. purchased a new position in Meta Platforms in the third quarter worth about $589,000. FFG Partners LLC lifted its position in Meta Platforms by 0.8% during the third quarter. FFG Partners LLC now owns 14,750 shares of the social networking company’s stock valued at $8,444,000 after purchasing an additional 121 shares in the last quarter. Fidelity D & D Bancorp Inc. bought a new position in shares of Meta Platforms in the third quarter worth approximately $220,000. Finally, Boulder Wealth Advisors LLC bought a new position in shares of Meta Platforms during the 3rd quarter valued at about $408,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on META. UBS Group increased their price target on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Sanford C. Bernstein boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Pivotal Research raised their target price on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. KeyCorp upped their price target on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $675.00 price objective on shares of Meta Platforms in a report on Monday, November 25th. Two equities 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $635.20.

About Representative Moskowitz

Jared Evan Moskowitz (Democratic Party) is a member of the U.S. House, representing Florida’s 23rd Congressional District. He assumed office on January 3, 2023. His current term ends on January 3, 2025. Moskowitz (Democratic Party) is running for re-election to the U.S. House to represent Florida’s 23rd Congressional District. He declared candidacy for the Democratic primary scheduled on August 20, 2024. Moskowitz resigned his state House seat on January 11, 2019, to head the state’s Division of Emergency Management. Jared Evan Moskowitz was born in Coral Springs, Florida. Moskowitz graduated from Marjory Stoneman Douglas High School. He earned a bachelor’s degree in political science and government from George Washington University in 2003 and a law degree from Nova Southeastern University in 2007. Moskowitz’s career experience includes working as the director of the Florida Division of Emergency Management and general counsel with AshBritt Inc.

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.