Meta Platforms, Inc. (NASDAQ:META) is Catalina Capital Group LLC’s 7th Largest Position

Catalina Capital Group LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,178 shares of the social networking company’s stock after purchasing an additional 740 shares during the quarter. Meta Platforms comprises approximately 2.2% of Catalina Capital Group LLC’s portfolio, making the stock its 7th biggest position. Catalina Capital Group LLC’s holdings in Meta Platforms were worth $6,545,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms during the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms in the third quarter worth $36,000. Avondale Wealth Management purchased a new position in Meta Platforms in the fourth quarter worth $41,000. Cordant Inc. purchased a new position in Meta Platforms in the fourth quarter worth $59,000. Finally, Hoese & Co LLP raised its position in Meta Platforms by 2,000.0% in the third quarter. Hoese & Co LLP now owns 105 shares of the social networking company’s stock worth $60,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the sale, the chief financial officer now owns 51,591 shares in the company, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $2,918,698.12. Following the sale, the chief technology officer now owns 8,565 shares of the company’s stock, valued at approximately $4,943,375.40. This trade represents a 37.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 701,146 shares of company stock worth $435,387,895. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $714.52 on Friday. The company has a market cap of $1.80 trillion, a P/E ratio of 29.87, a PEG ratio of 1.47 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $725.01. The business’s 50-day simple moving average is $627.23 and its 200 day simple moving average is $573.70.

Meta Platforms (NASDAQ:META) last announced its earnings results 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 return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the company posted $5.33 EPS. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 25.94 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced 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 of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.28%. Meta Platforms’s payout ratio is currently 8.36%.

Analysts Set New Price Targets

META has been the subject of several research analyst reports. Mizuho increased their price objective on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. BMO Capital Markets increased their price objective on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Scotiabank increased their price objective on Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 30th. JMP Securities reissued a “market outperform” rating and issued a $750.00 target price on shares of Meta Platforms in a report on Monday, January 27th. Finally, Bank of America upped their target price on Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $710.83.

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.