Myriad Asset Management US LP Takes $6.70 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Myriad Asset Management US LP acquired a new position in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,447 shares of the social networking company’s stock, valued at approximately $6,702,000. Meta Platforms comprises approximately 4.5% of Myriad Asset Management US LP’s portfolio, making the stock its 5th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of Meta Platforms by 1.5% during the 3rd 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. Jennison Associates LLC lifted its position in Meta Platforms by 1.9% in the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after purchasing an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after buying an additional 118,298 shares in the last quarter. International Assets Investment Management LLC boosted its stake 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 buying an additional 9,500,444 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Meta Platforms by 2.8% in the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after buying an additional 186,728 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 1.6 %

NASDAQ META opened at $683.62 on Friday. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The stock has a 50-day simple moving average of $647.09 and a 200 day simple moving average of $590.57. 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 has a market capitalization of $1.73 trillion, a PE ratio of 28.58, a P/E/G ratio of 1.44 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, 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 period in the previous year, the firm posted $5.33 earnings per share. Research analysts forecast that Meta Platforms, Inc. will post 26.66 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is 8.36%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $562.77, for a total transaction of $232,424.01. Following the transaction, the chief operating officer now directly owns 19,579 shares in the company, valued at approximately $11,018,473.83. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 55,589 shares of the business’s stock in a transaction dated 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 have sold a total of 810,217 shares of company stock valued at $523,808,864 over the last three months. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Cantor Fitzgerald lifted their target price on shares of Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Sanford C. Bernstein increased their target price on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Citigroup raised their target price on Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. upped their price target on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, JMP Securities reissued a “market outperform” rating and set a $750.00 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 assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $717.90.

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.