Conway Capital Management Inc. Increases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Conway Capital Management Inc. grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,859 shares of the social networking company’s stock after purchasing an additional 1,142 shares during the period. Meta Platforms comprises about 1.8% of Conway Capital Management Inc.’s portfolio, making the stock its 14th biggest position. Conway Capital Management Inc.’s holdings in Meta Platforms were worth $4,016,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Smallwood Wealth Investment Management LLC increased its stake in Meta Platforms by 18.8% during the 4th quarter. Smallwood Wealth Investment Management LLC now owns 512 shares of the social networking company’s stock worth $300,000 after buying an additional 81 shares during the period. Cerro Pacific Wealth Advisors LLC grew its stake in shares of Meta Platforms by 3.0% in the fourth quarter. Cerro Pacific Wealth Advisors LLC now owns 4,356 shares of the social networking company’s stock worth $2,494,000 after acquiring an additional 128 shares in the last quarter. FCG Investment Co increased its position in shares of Meta Platforms by 7.9% during the fourth quarter. FCG Investment Co now owns 8,210 shares of the social networking company’s stock worth $4,807,000 after acquiring an additional 604 shares during the period. Lifestyle Asset Management Inc. raised its stake in shares of Meta Platforms by 2.0% in the fourth quarter. Lifestyle Asset Management Inc. now owns 3,020 shares of the social networking company’s stock valued at $1,768,000 after acquiring an additional 59 shares in the last quarter. Finally, Yeomans Consulting Group Inc. increased its holdings in Meta Platforms by 16.2% during the 4th quarter. Yeomans Consulting Group Inc. now owns 625 shares of the social networking company’s stock worth $366,000 after purchasing an additional 87 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $631.55, for a total value of $571,552.75. Following the completion of the sale, the insider now owns 32,010 shares in the company, valued at approximately $20,215,915.50. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 568,016 shares of company stock valued at $346,031,180. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $647.49 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $601.93 and its two-hundred day moving average is $560.51. The firm has a market capitalization of $1.63 trillion, a PE ratio of 30.50, a P/E/G ratio of 1.18 and a beta of 1.19. Meta Platforms, Inc. has a twelve month low of $385.66 and a twelve month high of $652.00.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analyst Ratings Changes

META has been the subject of several recent research reports. Barclays lifted their price objective on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. TD Cowen boosted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Susquehanna raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Pivotal Research boosted their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Citigroup raised their price target on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two investment 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $654.20.

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.