Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Syon Capital LLC

Syon Capital LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1,836.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 337,206 shares of the social networking company’s stock after acquiring an additional 319,789 shares during the quarter. Meta Platforms accounts for about 8.6% of Syon Capital LLC’s portfolio, making the stock its biggest holding. Syon Capital LLC’s holdings in Meta Platforms were worth $119,357,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Roffman Miller Associates Inc. PA lifted its holdings in Meta Platforms by 8.6% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 5,347 shares of the social networking company’s stock valued at $1,893,000 after acquiring an additional 425 shares during the last quarter. Pittenger & Anderson Inc. lifted its stake in Meta Platforms by 400.7% during the fourth quarter. Pittenger & Anderson Inc. now owns 30,070 shares of the social networking company’s stock valued at $10,644,000 after buying an additional 24,065 shares in the last quarter. Nadler Financial Group Inc. lifted its stake in Meta Platforms by 3.0% during the fourth quarter. Nadler Financial Group Inc. now owns 4,332 shares of the social networking company’s stock valued at $1,533,000 after buying an additional 128 shares in the last quarter. Disciplined Equity Management Inc. purchased a new stake in Meta Platforms during the fourth quarter valued at about $51,000. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in Meta Platforms by 6.4% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 51,263 shares of the social networking company’s stock valued at $18,145,000 after buying an additional 3,095 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.4 %

META stock traded up $1.91 during midday trading on Friday, reaching $443.29. The stock had a trading volume of 31,869,622 shares, compared to its average volume of 18,353,445. The business has a fifty day simple moving average of $495.08 and a two-hundred day simple moving average of $403.40. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.13 trillion, a price-to-earnings ratio of 25.21, a PEG ratio of 1.26 and a beta of 1.20. Meta Platforms, Inc. has a twelve month low of $229.85 and a twelve month high of $531.49.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.37% and a net margin of 32.06%. The firm had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. As a group, research analysts expect that Meta Platforms, Inc. will post 20.18 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analysts Set New Price Targets

META has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday. Wedbush dropped their target price on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a report on Thursday. Tigress Financial upped their target price on Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a report on Friday, February 9th. TD Cowen dropped their target price on Meta Platforms from $590.00 to $530.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Susquehanna upped their target price on Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $509.18.

Insider Activity

In other news, insider Jennifer Newstead sold 566 shares of Meta Platforms stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $404.00, for a total transaction of $228,664.00. Following the transaction, the insider now owns 34,720 shares in the company, valued at approximately $14,026,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, COO Javier Olivan sold 490 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total transaction of $239,134.70. Following the transaction, the chief operating officer now owns 79,944 shares of the company’s stock, valued at approximately $39,015,070.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 566 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $404.00, for a total value of $228,664.00. Following the transaction, the insider now directly owns 34,720 shares in the company, valued at approximately $14,026,880. The disclosure for this sale can be found here. Insiders have sold 1,349,148 shares of company stock worth $649,552,559 in the last 90 days. Corporate insiders own 13.75% 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.