Corps Capital Advisors LLC Purchases New Shares in Meta Platforms, Inc. (NASDAQ:META)

Corps Capital Advisors LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,361 shares of the social networking company’s stock, valued at approximately $1,968,000. Meta Platforms makes up approximately 2.0% of Corps Capital Advisors LLC’s portfolio, making the stock its 12th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. JDM Financial Group LLC acquired a new stake in Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms during the third quarter worth about $36,000. Avondale Wealth Management acquired a new stake in Meta Platforms during the fourth quarter worth about $41,000. Cordant Inc. acquired a new stake in Meta Platforms during the fourth quarter worth about $59,000. Finally, Reston Wealth Management LLC bought a new position in shares of Meta Platforms in the third quarter worth about $61,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 2.5 %

NASDAQ META opened at $673.70 on Thursday. The stock has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 28.16, a PEG ratio of 1.42 and a beta of 1.20. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The business’s fifty day moving average is $650.26 and its 200-day moving average is $594.62.

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 period in the previous year, the company posted $5.33 EPS. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.31%. 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. Meta Platforms’s payout ratio is presently 8.78%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on META. Susquehanna increased their target price on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a report on Thursday, January 30th. Wedbush reissued an “outperform” rating and issued a $770.00 target price (up previously from $700.00) on shares of Meta Platforms in a report on Thursday, January 30th. Royal Bank of Canada increased their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Piper Sandler raised their price objective on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, DA Davidson raised their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Two 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 assigned 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 target price of $719.26.

Insider Buying and Selling

In other news, COO Javier Olivan sold 413 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $577.49, for a total value of $238,503.37. Following the sale, the chief operating officer now directly owns 19,166 shares of the company’s stock, valued at approximately $11,068,173.34. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 3,523 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $701.10, for a total transaction of $2,469,975.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 813,030 shares of company stock valued at $525,952,077. Corporate insiders own 13.71% of the company’s stock.

About Meta Platforms

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.