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

Caprock Group LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 78,115 shares of the social networking company’s stock after acquiring an additional 10,259 shares during the period. Meta Platforms accounts for 1.5% of Caprock Group LLC’s portfolio, making the stock its 10th largest position. Caprock Group LLC’s holdings in Meta Platforms were worth $45,738,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. JDM Financial Group LLC acquired a new stake in Meta Platforms during the 3rd quarter worth $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms during the third quarter worth $36,000. Avondale Wealth Management bought a new position in shares of Meta Platforms during the fourth quarter worth $41,000. West Financial Advisors LLC bought a new position in shares of Meta Platforms during the third quarter worth $49,000. Finally, Cordant Inc. bought a new position in shares of Meta Platforms during the fourth quarter worth $59,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $704.19 on Wednesday. The company has a market cap of $1.78 trillion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.47 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a 50 day simple moving average of $618.86 and a 200 day simple moving average of $570.21. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $710.79.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the prior year, the business posted $5.33 earnings per share. Research analysts predict that Meta Platforms, Inc. will post 25.94 earnings per share for the current fiscal 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 yield of 0.28%. The ex-dividend date was Monday, December 16th. Meta Platforms’s payout ratio is 8.36%.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the transaction, the insider now directly owns 38,695 shares in the company, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 673,878 shares of company stock valued at $416,269,904 in the last quarter. Insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on META shares. Arete Research raised shares of Meta Platforms to a “hold” rating in a research report on Friday, January 24th. Stifel Nicolaus lifted their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Citigroup lifted their price target on shares of Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a research report 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 report on Thursday, January 30th. Finally, Truist Financial boosted their price objective on shares of Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $710.83.

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.