Jmac Enterprises LLC Acquires 53 Shares of Meta Platforms, Inc. (NASDAQ:META)

Jmac Enterprises LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,492 shares of the social networking company’s stock after acquiring an additional 53 shares during the quarter. Jmac Enterprises LLC’s holdings in Meta Platforms were worth $874,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC increased its position in Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after acquiring an additional 4,126,190 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in Meta Platforms by 87,269.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock valued at $625,125,000 after acquiring an additional 1,066,437 shares during the period. World Investment Advisors LLC lifted its holdings in Meta Platforms by 4,658.5% in the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after acquiring an additional 890,434 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 2.8 %

META opened at $715.91 on Wednesday. The business’s 50-day simple moving average is $643.13 and its 200-day simple moving average is $587.57. 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 $740.91. The stock has a market capitalization of $1.81 trillion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the company earned $5.33 EPS. Analysts anticipate that Meta Platforms, Inc. will post 26.66 EPS for the current year.

Meta Platforms Increases Dividend

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

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 902 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $713.32, for a total value of $643,414.64. Following the sale, the insider now owns 27,488 shares of the company’s stock, valued at approximately $19,607,740.16. The trade was a 3.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 770,701 shares of company stock worth $495,357,621 in the last ninety days. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on META. Wolfe Research boosted their target price 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. KeyCorp increased their price objective on shares of Meta Platforms from $700.00 to $750.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Royal Bank of Canada increased their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Oppenheimer increased their price objective on shares of Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, UBS Group increased their price objective on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target 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.