Syntax Research Inc. Has $87,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

Syntax Research Inc. lessened its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 245 shares of the social networking company’s stock after selling 25 shares during the quarter. Syntax Research Inc.’s holdings in Meta Platforms were worth $87,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Meta Platforms by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock valued at $55,011,920,000 after purchasing an additional 1,733,182 shares during the last quarter. FMR LLC lifted its holdings in Meta Platforms by 4.0% during the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after purchasing an additional 5,001,647 shares during the last quarter. Morgan Stanley lifted its holdings in Meta Platforms by 3.4% during the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after purchasing an additional 1,184,978 shares during the last quarter. Norges Bank acquired a new stake in Meta Platforms during the 4th quarter valued at $4,223,148,000. Finally, Northern Trust Corp lifted its holdings in Meta Platforms by 4.3% during the 3rd quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock valued at $6,906,009,000 after purchasing an additional 946,871 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock traded down $3.31 during midday trading on Monday, reaching $508.59. The company’s stock had a trading volume of 4,400,984 shares, compared to its average volume of 17,121,643. Meta Platforms, Inc. has a 52 week low of $207.13 and a 52 week high of $531.49. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $491.44 and a 200-day moving average price of $393.22. The stock has a market cap of $1.30 trillion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 1.31 and a beta of 1.20.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. During the same period last year, the firm posted $3.00 earnings per share. The business’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, sell-side analysts predict that Meta Platforms, Inc. will post 20.06 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s payout ratio is 13.42%.

Wall Street Analyst Weigh In

META has been the subject of several research reports. Raymond James raised their price target on Meta Platforms from $450.00 to $550.00 and gave the company a “strong-buy” rating in a report on Friday, February 2nd. Wedbush increased their price objective on Meta Platforms from $420.00 to $520.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Stifel Nicolaus increased their price objective on Meta Platforms from $405.00 to $527.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Canaccord Genuity Group increased their price objective on Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Monness Crespi & Hardt increased their price objective on Meta Platforms from $370.00 to $540.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $505.75.

Get Our Latest Research Report on Meta Platforms

Insider Activity

In other news, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms 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 of the company’s stock, valued at $8,723,496.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the transaction, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total value of $305,370.00. Following the completion of the transaction, the insider now directly owns 38,398 shares in the company, valued at $20,043,756. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,460,035 shares of company stock valued at $691,937,607. 14.03% of the stock is currently owned by corporate insiders.

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.

Further Reading

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

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