Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Geneva Partners LLC

Geneva Partners LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,877 shares of the social networking company’s stock after acquiring an additional 1,330 shares during the period. Meta Platforms accounts for about 4.5% of Geneva Partners LLC’s portfolio, making the stock its 6th largest holding. Geneva Partners LLC’s holdings in Meta Platforms were worth $11,053,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. AMF Tjanstepension AB lifted its stake in Meta Platforms by 32.5% during the third quarter. AMF Tjanstepension AB now owns 457,092 shares of the social networking company’s stock worth $261,680,000 after purchasing an additional 112,047 shares in the last quarter. Wedge Capital Management L L P NC lifted its stake in Meta Platforms by 3,352.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 116,580 shares of the social networking company’s stock worth $66,735,000 after acquiring an additional 113,203 shares in the last quarter. Grove Bank & Trust boosted its holdings in Meta Platforms by 21.7% during the 3rd quarter. Grove Bank & Trust now owns 4,926 shares of the social networking company’s stock valued at $2,820,000 after acquiring an additional 878 shares during the period. Sivia Capital Partners LLC grew its position in Meta Platforms by 1.6% in the 3rd quarter. Sivia Capital Partners LLC now owns 5,651 shares of the social networking company’s stock valued at $3,235,000 after acquiring an additional 87 shares in the last quarter. Finally, M. Kraus & Co purchased a new stake in Meta Platforms during the third quarter worth about $207,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In other news, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The disclosure for this sale can be found here. Insiders sold 756,735 shares of company stock valued at $475,285,232 in the last 90 days. 13.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

META has been the subject of a number of research reports. Citigroup lifted their price objective on shares of Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Piper Sandler upped their price objective on Meta Platforms from $670.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Wells Fargo & Company lifted their target price on Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. TD Cowen increased 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. Finally, Robert W. Baird upped their price objective on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $717.90.

Meta Platforms Stock Up 0.3 %

META stock opened at $719.80 on Wednesday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $631.85 and its 200 day moving average price is $578.74. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $725.01. The company has a market cap of $1.82 trillion, a P/E ratio of 30.09, a P/E/G ratio of 1.46 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced 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 quarter last year, the business posted $5.33 EPS. On average, research analysts expect that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

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.