Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Spinnaker Investment Group LLC

Spinnaker Investment Group LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 712 shares of the social networking company’s stock after acquiring an additional 70 shares during the period. Spinnaker Investment Group LLC’s holdings in Meta Platforms were worth $417,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of META. International Assets Investment Management LLC raised its position in shares of 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 worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC increased its stake in Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after purchasing an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC raised its holdings in Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after buying an additional 890,434 shares during the period. Geode Capital Management LLC lifted its stake in Meta Platforms by 1.5% during 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 in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Meta Platforms by 926.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock worth $369,774,000 after buying an additional 661,923 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

META has been the subject of a number of recent analyst reports. Scotiabank decreased their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. KeyCorp raised their target price on Meta Platforms from $655.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. The Goldman Sachs Group upped their price target on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Rosenblatt Securities restated a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Thursday, October 31st. Finally, Roth Mkm upped their target price on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a 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 assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $654.20.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $580.10, for a total transaction of $524,990.50. Following the sale, the insider now directly owns 31,482 shares in the company, valued at approximately $18,262,708.20. The trade was a 2.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 420 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $600.17, for a total value of $252,071.40. Following the completion of the transaction, the chief executive officer now owns 518,004 shares of the company’s stock, valued at $310,890,460.68. The trade was a 0.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 568,016 shares of company stock worth $346,031,180 over the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 1.7 %

META opened at $647.49 on Monday. The business has a 50 day moving average of $601.93 and a 200-day moving average of $560.51. The stock has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 30.50, a P/E/G ratio of 1.18 and a beta of 1.19. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 1-year low of $385.66 and a 1-year high of $652.00.

Meta Platforms (NASDAQ:META) last issued 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Announces Dividend

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

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.