Hedeker Wealth LLC Purchases 59 Shares of Meta Platforms, Inc. (NASDAQ:META)

Hedeker Wealth LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,892 shares of the social networking company’s stock after acquiring an additional 59 shares during the quarter. Meta Platforms accounts for about 1.6% of Hedeker Wealth LLC’s holdings, making the stock its 19th largest position. Hedeker Wealth LLC’s holdings in Meta Platforms were worth $6,377,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in Meta Platforms by 57,001.5% during the third 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 grew 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 worth $2,365,820,000 after buying an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC boosted its position in shares of Meta Platforms by 4,658.5% during the 3rd 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 last quarter. Geode Capital Management LLC grew its holdings in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Finally, National Pension Service lifted its position in Meta Platforms by 14.6% during the third quarter. National Pension Service now owns 4,318,046 shares of the social networking company’s stock valued at $2,471,822,000 after purchasing an additional 550,852 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a research report on Monday, January 27th. TD Cowen raised their price target on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. UBS Group upped their price objective on Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. BMO Capital Markets raised their price objective on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Finally, Citigroup upped their target price on Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $717.90.

Insiders Place Their Bets

In other news, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the transaction, the insider now directly owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This represents a 15.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $2,918,698.12. Following the transaction, the chief technology officer now owns 8,565 shares in the company, valued at $4,943,375.40. This represents a 37.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 756,735 shares of company stock valued at $475,285,232. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $719.80 on Wednesday. The firm’s 50-day simple moving average is $631.85 and its two-hundred day simple moving average is $578.74. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $725.01. The stock has a market cap of $1.82 trillion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. 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 (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating 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 business earned $5.33 earnings per share. Analysts anticipate that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Meta Platforms Company 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.