Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Heron Bay Capital Management

Heron Bay Capital Management lifted its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,580 shares of the social networking company’s stock after purchasing an additional 399 shares during the period. Meta Platforms makes up 2.9% of Heron Bay Capital Management’s investment portfolio, making the stock its 13th largest holding. Heron Bay Capital Management’s holdings in Meta Platforms were worth $12,594,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in META. Fairfield Bush & CO. acquired a new position in shares of Meta Platforms in the first quarter valued at approximately $66,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Meta Platforms by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,244,201 shares of the social networking company’s stock valued at $499,020,000 after buying an additional 249,926 shares during the last quarter. Ergoteles LLC grew its holdings in Meta Platforms by 284.0% in the first quarter. Ergoteles LLC now owns 3,356 shares of the social networking company’s stock valued at $746,000 after purchasing an additional 2,482 shares during the period. First Western Trust Bank purchased a new stake in Meta Platforms in the first quarter valued at approximately $813,000. Finally, Oxford Financial Group Ltd. grew its holdings in Meta Platforms by 26.9% in the first quarter. Oxford Financial Group Ltd. now owns 1,888 shares of the social networking company’s stock valued at $420,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 62.87% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $509.58 on Friday. The firm has a 50-day moving average price of $457.19 and a 200 day moving average price of $370.63. The firm has a market capitalization of $1.30 trillion, a PE ratio of 34.20, a P/E/G ratio of 1.31 and a beta of 1.21. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52-week low of $197.90 and a 52-week high of $523.57.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The company had revenue of $40.11 billion during the quarter, compared to analyst estimates of $39.12 billion. During the same quarter last year, the firm posted $3.00 EPS. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 19.94 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. Meta Platforms’s dividend payout ratio (DPR) is 13.42%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group boosted their target price on shares of Meta Platforms from $425.00 to $455.00 and gave the company a “buy” rating in a report on Monday, January 29th. Wells Fargo & Company boosted their target price on shares of Meta Platforms from $536.00 to $609.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Wolfe Research boosted their target price on shares of Meta Platforms from $430.00 to $530.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Piper Sandler boosted their price objective on shares of Meta Platforms from $415.00 to $525.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $405.00 to $527.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $496.35.

Check Out Our Latest Report on Meta Platforms

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $354.90, for a total transaction of $200,873.40. Following the completion of the sale, the insider now directly owns 37,550 shares of the company’s stock, valued at $13,326,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Javier Olivan sold 490 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total value of $239,134.70. Following the completion of the sale, the chief operating officer now directly owns 79,944 shares of the company’s stock, valued at $39,015,070.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 566 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $354.90, for a total transaction of $200,873.40. Following the completion of the sale, the insider now directly owns 37,550 shares of the company’s stock, valued at $13,326,495. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,365,299 shares of company stock worth $626,512,270. Corporate insiders own 13.75% of the company’s stock.

Meta Platforms Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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