Pallas Capital Advisors LLC Buys 529 Shares of Meta Platforms, Inc. (NASDAQ:META)

Pallas Capital Advisors LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 3.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,960 shares of the social networking company’s stock after purchasing an additional 529 shares during the period. Pallas Capital Advisors LLC’s holdings in Meta Platforms were worth $5,295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Stone House Investment Management LLC boosted its stake in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC boosted its stake in shares of Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after buying an additional 42 shares during the last quarter. Stephens Investment Management Group LLC bought a new stake in shares of Meta Platforms in the second quarter worth $30,000. PayPay Securities Corp grew its holdings in shares of Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after acquiring an additional 43 shares during the period. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Meta Platforms in the third quarter worth $40,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the transaction, the chief operating officer now owns 79,944 shares in the company, valued at approximately $39,015,070.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $351.47, for a total transaction of $6,917,281.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the sale, the chief operating officer now owns 79,944 shares in the company, valued at $39,015,070.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,502,805 shares of company stock worth $703,056,383. Insiders own 14.03% of the company’s stock.

Meta Platforms Stock Up 1.2 %

Shares of NASDAQ:META opened at $491.35 on Tuesday. Meta Platforms, Inc. has a 52-week low of $207.13 and a 52-week high of $523.57. The stock has a market cap of $1.25 trillion, a P/E ratio of 32.98, a price-to-earnings-growth ratio of 1.25 and a beta of 1.20. The business’s 50 day moving average is $471.26 and its 200 day moving average is $379.61. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The company had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. During the same quarter in the prior year, the firm earned $3.00 earnings per share. Meta Platforms’s revenue was up 24.7% compared to the same quarter last year. Sell-side analysts predict that Meta Platforms, Inc. will post 19.94 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.41%. Meta Platforms’s dividend payout ratio is presently 13.42%.

Analyst Upgrades and Downgrades

Several analysts recently commented on META shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Meta Platforms from $450.00 to $525.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Wedbush lifted their price objective on Meta Platforms from $420.00 to $520.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Canaccord Genuity Group lifted their price objective on Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Guggenheim lifted their price objective on Meta Platforms from $380.00 to $520.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Evercore ISI boosted their price target on Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-nine have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $496.35.

Get Our Latest Research Report on Meta Platforms

About Meta Platforms

(Free Report)

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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