Bear Mountain Capital Inc. Purchases New Shares in Meta Platforms, Inc. (NASDAQ:META)

Bear Mountain Capital Inc. bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 110 shares of the social networking company’s stock, valued at approximately $70,000.

A number of other institutional investors have also recently modified their holdings of the business. Integrated Investment Consultants LLC grew its stake in Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after acquiring an additional 4,126,190 shares during the period. Strategic Financial Concepts LLC lifted its holdings in Meta Platforms by 87,269.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock valued at $625,125,000 after purchasing an additional 1,066,437 shares in the last quarter. World Investment Advisors LLC grew its position in shares of Meta Platforms by 4,658.5% in the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after purchasing an additional 890,434 shares during the period. Geode Capital Management LLC increased its stake 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 raised its position in shares of Meta Platforms by 14.6% during the 3rd quarter. National Pension Service now owns 4,318,046 shares of the social networking company’s stock worth $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 and hedge funds.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 4,706 shares of the company’s stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the transaction, the chief operating officer now directly owns 20,935 shares of the company’s stock, valued at approximately $15,422,186.45. This represents a 18.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $591.76, for a total value of $535,542.80. Following the sale, the insider now owns 32,915 shares of the company’s stock, valued at approximately $19,477,780.40. The trade was a 2.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 813,030 shares of company stock valued at $525,952,077 over the last quarter. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

META stock opened at $673.70 on Thursday. The business’s 50-day moving average is $650.26 and its two-hundred day moving average is $594.62. 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 firm has a market capitalization of $1.71 trillion, a P/E ratio of 28.16, a P/E/G ratio of 1.42 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.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (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 prior year, the company earned $5.33 earnings per share. Analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Friday, March 14th. Meta Platforms’s payout ratio is 8.78%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on META. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Monday, January 27th. Bank of America boosted their price target on Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. DA Davidson raised their price objective on Meta Platforms from $700.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Morgan Stanley lifted their target price on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Oppenheimer increased their target price on shares of Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $719.26.

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.