12,946 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Summerhill Capital Management lnc.

Summerhill Capital Management lnc. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,946 shares of the social networking company’s stock, valued at approximately $7,580,000. Meta Platforms makes up about 5.7% of Summerhill Capital Management lnc.’s holdings, making the stock its 9th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in META. JDM Financial Group LLC purchased a new stake in Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms in the third quarter valued at about $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $41,000. Cordant Inc. purchased a new stake in shares of Meta Platforms in the fourth quarter valued at about $59,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Meta Platforms in the third quarter valued at about $61,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Susquehanna upped their price target on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a report on Thursday, January 30th. Argus set a $775.00 price target on shares of Meta Platforms in a report on Tuesday, February 4th. Wedbush reissued an “outperform” rating and issued a $770.00 price objective (up previously from $700.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Finally, Truist Financial boosted their price objective on shares of Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $719.26.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of the stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the transaction, the chief operating officer now directly owns 20,935 shares in the company, valued at $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 is available through this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $595.00, for a total transaction of $538,475.00. Following the transaction, the insider now owns 36,535 shares in the company, valued at $21,738,325. This trade represents a 2.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 813,951 shares of company stock worth $526,565,232 in the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of META stock opened at $658.24 on Friday. The company has a market capitalization of $1.67 trillion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20. The firm has a fifty day simple moving average of $651.52 and a 200-day simple moving average of $595.06. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate 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 firm earned $5.33 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders 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 yield of 0.32%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, March 14th. Meta Platforms’s dividend payout ratio is 8.78%.

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.