2,943 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by YANKCOM Partnership

YANKCOM Partnership acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,943 shares of the social networking company’s stock, valued at approximately $1,723,000. Meta Platforms makes up 0.9% of YANKCOM Partnership’s holdings, making the stock its 22nd largest position.

Other hedge funds have also made changes to their positions in the company. Stephens Consulting LLC boosted its holdings in Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after acquiring an additional 16 shares during the period. Lindenwold Advisors INC lifted its position in shares of Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after purchasing an additional 17 shares in the last quarter. Insight Wealth Strategies LLC boosted its stake in shares of Meta Platforms by 1.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock valued at $625,000 after purchasing an additional 17 shares during the period. Steigerwald Gordon & Koch Inc. grew its holdings in shares of Meta Platforms by 0.6% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock valued at $1,569,000 after purchasing an additional 17 shares in the last quarter. Finally, Alliance Wealth Advisors LLC increased its stake in Meta Platforms by 0.7% during the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock worth $1,595,000 after buying an additional 18 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.3 %

Shares of NASDAQ:META opened at $719.80 on Wednesday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.82 trillion, a P/E ratio of 30.09, a P/E/G ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $725.01. The stock’s fifty day simple moving average is $631.85 and its 200-day simple moving average is $578.74.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share 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. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.28%. Meta Platforms’s payout ratio is currently 8.36%.

Analysts Set New Price Targets

Several brokerages have commented on META. 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. Scotiabank boosted their target price on Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. UBS Group increased their price target on Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. KeyCorp boosted their price objective on Meta Platforms from $700.00 to $750.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $770.00 target price (up previously from $700.00) on shares of Meta Platforms in a report on Thursday, January 30th. 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $717.90.

Insider Buying and Selling at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $2,918,698.12. Following the completion of the sale, the chief technology officer now directly owns 8,565 shares in the company, valued at $4,943,375.40. This represents a 37.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was 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 of the company’s stock, valued at $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 756,735 shares of company stock worth $475,285,232. 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.