Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC raised its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,449,850 shares of the social networking company’s stock after acquiring an additional 407,412 shares during the quarter. Meta Platforms accounts for about 0.9% of Fisher Asset Management LLC’s investment portfolio, making the stock its 24th largest holding. Fisher Asset Management LLC owned approximately 0.21% of Meta Platforms worth $1,929,029,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Stone House Investment Management LLC grew 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. Quest Partners LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $32,000. Clear Investment Research LLC increased its stake in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. Gilfoyle & Co LLC acquired a new stake in Meta Platforms in the fourth quarter valued at $39,000. Finally, Cranbrook Wealth Management LLC raised its holdings in 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 acquiring an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on META shares. Truist Financial reduced their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Robert W. Baird reduced their price objective on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Royal Bank of Canada reduced their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Loop Capital cut their target price on Meta Platforms from $555.00 to $550.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group lowered their price target on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $510.41.

View Our Latest Research Report on META

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 31,493 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $492.37, for a total transaction of $15,506,208.41. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 31,493 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $492.37, for a total value of $15,506,208.41. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $488.50, for a total transaction of $285,772.50. Following the sale, the insider now owns 40,153 shares of the company’s stock, valued at approximately $19,614,740.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 437,528 shares of company stock worth $215,768,262. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded up $0.56 during midday trading on Friday, hitting $504.16. The company had a trading volume of 10,243,347 shares, compared to its average volume of 10,607,878. Meta Platforms, Inc. has a 1-year low of $271.42 and a 1-year high of $531.49. The business’s 50 day simple moving average is $480.39 and its two-hundred day simple moving average is $442.26. The stock has a market cap of $1.28 trillion, a PE ratio of 28.96, a P/E/G ratio of 1.31 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. As a group, equities analysts predict that Meta Platforms, Inc. will post 20.16 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. Meta Platforms’s dividend payout ratio is 11.49%.

About Meta Platforms

(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.

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

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