Consolidated Portfolio Review Corp Boosts Holdings in Meta Platforms, Inc. (NASDAQ:META)

Consolidated Portfolio Review Corp raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,469 shares of the social networking company’s stock after buying an additional 97 shares during the period. Consolidated Portfolio Review Corp’s holdings in Meta Platforms were worth $1,446,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. JDM Financial Group LLC purchased a new position in Meta Platforms during the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at $36,000. Avondale Wealth Management purchased a new position in shares of Meta Platforms during the 4th quarter valued at $41,000. Cordant Inc. purchased a new stake in Meta Platforms in the 4th quarter worth $59,000. Finally, Reston Wealth Management LLC bought a new stake in Meta Platforms during the third quarter valued at about $61,000. 79.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on META. The Goldman Sachs Group increased their target price on Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. UBS Group increased their price objective on shares of Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Sanford C. Bernstein upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. KeyCorp lifted their price target 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. Finally, Rosenblatt Securities reissued a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a report on Monday, January 27th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $717.90.

Meta Platforms Price Performance

NASDAQ META opened at $719.80 on Wednesday. The company has a market cap of $1.82 trillion, a PE ratio of 30.09, a P/E/G ratio of 1.46 and a beta of 1.20. The firm’s 50 day moving average price is $631.85 and its 200-day moving average price is $578.74. 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 52-week low of $414.50 and a 52-week high of $725.01.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping 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 last year, the business posted $5.33 earnings per share. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.66 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.28%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.36%.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 55,589 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $702.24, for a total value of $635,527.20. Following the transaction, the insider now owns 28,390 shares in the company, valued at approximately $19,936,593.60. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 756,735 shares of company stock valued at $475,285,232 over the last 90 days. Insiders own 13.71% of the company’s stock.

Meta Platforms 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.