Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Greater Midwest Financial Group LLC

Greater Midwest Financial Group LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,201 shares of the social networking company’s stock after acquiring an additional 532 shares during the quarter. Meta Platforms makes up about 2.3% of Greater Midwest Financial Group LLC’s portfolio, making the stock its 12th biggest holding. Greater Midwest Financial Group LLC’s holdings in Meta Platforms were worth $3,630,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of META. Brighton Jones LLC increased its stake in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after acquiring an additional 570 shares during the last quarter. Sterling Group Wealth Management LLC increased its position in shares of Meta Platforms by 22.6% during the 4th quarter. Sterling Group Wealth Management LLC now owns 704 shares of the social networking company’s stock worth $412,000 after purchasing an additional 130 shares during the last quarter. Lincoln Capital Corp raised its holdings in Meta Platforms by 4.9% in the 4th quarter. Lincoln Capital Corp now owns 1,477 shares of the social networking company’s stock valued at $865,000 after buying an additional 69 shares during the period. Hengehold Capital Management LLC lifted its position in Meta Platforms by 20.0% in the fourth quarter. Hengehold Capital Management LLC now owns 1,003 shares of the social networking company’s stock valued at $587,000 after buying an additional 167 shares during the last quarter. Finally, Conway Capital Management Inc. boosted its stake in Meta Platforms by 20.0% during the fourth quarter. Conway Capital Management Inc. now owns 6,859 shares of the social networking company’s stock worth $4,016,000 after buying an additional 1,142 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on META. Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a research note on Thursday, October 31st. Piper Sandler increased their price target on shares of Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Bank of America raised their price objective on shares of Meta Platforms from $660.00 to $710.00 and gave the company a “buy” rating in a research note on Thursday. JMP Securities increased their target price on shares of Meta Platforms from $660.00 to $750.00 and gave the stock a “market outperform” rating in a report on Thursday, January 2nd. Finally, Wolfe Research raised their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $654.20.

Meta Platforms Trading Up 1.7 %

Shares of META stock opened at $647.49 on Monday. The company has a market capitalization of $1.63 trillion, a P/E ratio of 30.50, a price-to-earnings-growth 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. The business’s 50 day moving average is $601.93 and its two-hundred day moving average is $560.51. 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 data 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 analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Announces Dividend

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

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total value of $22,746,973.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $567.58, for a total transaction of $234,410.54. Following the sale, the chief operating officer now directly owns 10,294 shares in the company, valued at approximately $5,842,668.52. This represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 568,016 shares of company stock worth $346,031,180 over the last 90 days. Company insiders own 13.71% of the company’s stock.

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.