Panoramic Capital Partners LLC Invests $901,000 in Meta Platforms, Inc. (NASDAQ:META)

Panoramic Capital Partners LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,539 shares of the social networking company’s stock, valued at approximately $901,000. Meta Platforms comprises approximately 0.8% of Panoramic Capital Partners LLC’s investment portfolio, making the stock its 17th largest holding.

Other hedge funds also recently made changes to their positions in the company. JDM Financial Group LLC purchased a new position in shares of Meta Platforms in the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms in the third quarter worth approximately $36,000. Avondale Wealth Management purchased a new position in shares of Meta Platforms in the fourth quarter worth approximately $41,000. Cordant Inc. purchased a new position in shares of Meta Platforms in the fourth quarter worth approximately $59,000. Finally, Reston Wealth Management LLC purchased a new position in shares of Meta Platforms in the third quarter worth approximately $61,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,668 shares of Meta Platforms stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $721.69, for a total value of $14,194,198.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $562.77, for a total value of $232,424.01. Following the completion of the transaction, the chief operating officer now directly owns 19,579 shares in the company, valued at approximately $11,018,473.83. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 751,033 shares of company stock valued at $480,911,671 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $736.67 on Monday. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. 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 market capitalization of $1.87 trillion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. The business has a 50 day simple moving average of $638.73 and a 200-day simple moving average of $584.28.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (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 period in the previous year, the company posted $5.33 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a dividend of $0.525 per share. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.36%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on META. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Mizuho lifted their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Robert W. Baird lifted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Wells Fargo & Company lifted their target price on shares of Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Cantor Fitzgerald boosted their price objective on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $717.90.

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.