Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Mogy Joel R Investment Counsel Inc.

Mogy Joel R Investment Counsel Inc. boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,503 shares of the social networking company’s stock after purchasing an additional 351 shares during the period. Meta Platforms makes up about 2.6% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 16th largest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Meta Platforms were worth $33,804,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in META. Stone House Investment Management LLC increased its holdings in shares of Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC increased its holdings in shares of Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares in the last quarter. PayPay Securities Corp increased its holdings in shares of Meta Platforms by 65.2% in the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after buying an additional 43 shares in the last quarter. Cranbrook Wealth Management LLC increased its holdings in shares of Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC bought a new position in shares of Meta Platforms in the fourth quarter valued at $39,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Javier Olivan sold 6,500 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $400.00, for a total value of $2,600,000.00. Following the transaction, the chief operating officer now owns 68,935 shares in the company, valued at approximately $27,574,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Susan J. Li sold 10,956 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $5,185,255.68. Following the transaction, the chief financial officer now owns 76,398 shares in the company, valued at approximately $36,157,645.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 6,500 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $400.00, for a total transaction of $2,600,000.00. Following the completion of the transaction, the chief operating officer now owns 68,935 shares in the company, valued at approximately $27,574,000. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,349,148 shares of company stock valued at $649,552,559. 13.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on META. Bank of America boosted their target price on shares of Meta Platforms from $425.00 to $510.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus boosted their target price on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group cut their target price on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research note on Thursday. One 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $509.18.

Meta Platforms Trading Up 0.4 %

Shares of META stock traded up $1.91 on Friday, hitting $443.29. The stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. Meta Platforms, Inc. has a twelve month low of $229.85 and a twelve month high of $531.49. The firm has a market cap of $1.13 trillion, a P/E ratio of 25.46, a PEG ratio of 1.12 and a beta of 1.20. The company has a current ratio of 2.68, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $494.48 and a two-hundred day moving average price of $404.27.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. As a group, analysts forecast that Meta Platforms, Inc. will post 20.33 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

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.