New Millennium Group LLC Boosts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

New Millennium Group LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.5% in the fourth quarter, HoldingsChannel reports. The firm owned 3,959 shares of the social networking company’s stock after acquiring an additional 205 shares during the quarter. Meta Platforms makes up about 1.4% of New Millennium Group LLC’s investment portfolio, making the stock its 22nd biggest position. New Millennium Group LLC’s holdings in Meta Platforms were worth $2,318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of META. Everett Harris & Co. CA boosted its stake in shares of Meta Platforms by 0.3% in the 4th quarter. Everett Harris & Co. CA now owns 14,094 shares of the social networking company’s stock valued at $8,252,000 after buying an additional 49 shares during the period. Total Clarity Wealth Management Inc. lifted its stake in Meta Platforms by 8.4% in the fourth quarter. Total Clarity Wealth Management Inc. now owns 1,830 shares of the social networking company’s stock worth $1,071,000 after acquiring an additional 142 shares during the last quarter. Clear Creek Financial Management LLC grew its holdings in Meta Platforms by 5.5% during the 4th quarter. Clear Creek Financial Management LLC now owns 3,833 shares of the social networking company’s stock worth $2,244,000 after acquiring an additional 200 shares in the last quarter. Custom Index Systems LLC increased its position in shares of Meta Platforms by 4.1% in the 4th quarter. Custom Index Systems LLC now owns 3,271 shares of the social networking company’s stock valued at $1,915,000 after purchasing an additional 130 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $1,785,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 12,975 shares of Meta Platforms stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $706.72, for a total transaction of $9,169,692.00. Following the completion of the transaction, the chief executive officer now directly owns 172,046 shares in the company, valued at $121,588,349.12. The trade was a 7.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 700,241 shares of company stock valued at $434,752,368 in the last 90 days. 13.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

META has been the topic of a number of analyst reports. Scotiabank raised their price target on Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. TD Cowen boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. Citigroup boosted their price objective 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. Finally, Robert W. Baird increased their target price 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. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $710.83.

Meta Platforms Stock Up 0.1 %

META stock opened at $704.87 on Thursday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $621.57 and its 200 day moving average price is $571.15. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $718.14. The company has a market cap of $1.78 trillion, a P/E ratio of 29.47, a P/E/G ratio of 1.47 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter last year, the business posted $5.33 EPS. On average, research analysts expect that Meta Platforms, Inc. will post 25.94 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.36%.

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.