Panoramic Capital Partners LLC Acquires Shares of 1,539 Meta Platforms, Inc. (NASDAQ:META)

Panoramic Capital Partners LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,539 shares of the social networking company’s stock, valued at approximately $901,000. Meta Platforms accounts for about 0.8% of Panoramic Capital Partners LLC’s holdings, making the stock its 17th largest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JDM Financial Group LLC purchased a new stake in Meta Platforms in the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC acquired a new position in Meta Platforms during the third quarter worth $36,000. Avondale Wealth Management purchased a new position in Meta Platforms in the fourth quarter worth $41,000. Cordant Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at $59,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter worth $61,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $736.67 on Monday. The company has a market cap of $1.87 trillion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.46 and a beta of 1.20. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The stock’s 50 day simple moving average is $638.73 and its two-hundred day simple moving average is $584.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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 net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the company posted $5.33 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

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

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $562.77, for a total value of $232,424.01. Following the completion of the sale, the chief operating officer now directly owns 19,579 shares of the company’s stock, valued at approximately $11,018,473.83. This represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 751,033 shares of company stock valued at $480,911,671 over the last quarter. 13.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on META shares. Rosenblatt Securities reissued a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a report on Monday, January 27th. Pivotal Research boosted their target price on shares of Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Barclays lifted their price target on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. JMP Securities reissued a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a research note on Monday, January 27th. Finally, Truist Financial lifted their target price on shares of Meta Platforms from $700.00 to $770.00 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 assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $717.90.

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.