Intellectus Partners LLC Buys 1,559 Shares of Meta Platforms, Inc. (NASDAQ:META)

Intellectus Partners LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,487 shares of the social networking company’s stock after purchasing an additional 1,559 shares during the quarter. Meta Platforms comprises 2.4% of Intellectus Partners LLC’s portfolio, making the stock its 4th largest position. Intellectus Partners LLC’s holdings in Meta Platforms were worth $8,313,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in META. Stone House Investment Management LLC boosted its stake in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC boosted its stake in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares in the last quarter. PayPay Securities Corp boosted its stake in Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares in the last quarter. Cranbrook Wealth Management LLC boosted its stake in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC bought a new position in Meta Platforms during the 4th quarter valued at $39,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

NASDAQ META traded up $1.91 during trading on Friday, reaching $443.29. 32,645,619 shares of the company traded hands, compared to its average volume of 18,233,678. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.68. The stock’s 50 day moving average price is $494.48 and its two-hundred day moving average price is $404.85. The company has a market cap of $1.13 trillion, a price-to-earnings ratio of 25.46, a P/E/G ratio of 1.13 and a beta of 1.20. Meta Platforms, Inc. has a 1-year low of $229.85 and a 1-year high of $531.49.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping 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 firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. As a group, analysts anticipate that Meta Platforms, Inc. will post 20.2 EPS for the current year.

Meta Platforms Announces Dividend

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

Insider Activity

In other news, COO Javier Olivan sold 6,500 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief operating officer now owns 68,935 shares of the company’s stock, valued at approximately $27,574,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, COO Javier Olivan sold 6,500 shares of the business’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 sale, the chief operating officer now directly owns 68,935 shares of the company’s stock, valued at approximately $27,574,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the sale, the chief technology officer now directly owns 18,432 shares in the company, valued at $8,723,496.96. The disclosure for this sale can be found here. Insiders sold 1,349,148 shares of company stock valued at $649,552,559 in the last quarter. Company insiders own 13.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on META shares. Oppenheimer decreased their price target on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday. Sanford C. Bernstein reduced their price objective on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research note on Thursday. Guggenheim reduced their price objective on Meta Platforms from $520.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday. JPMorgan Chase & Co. reduced their price objective on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Wedbush reduced their price objective on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $509.18.

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.