Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. grew its position in Meta Platforms, Inc. (NASDAQ:META) by 15.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,817 shares of the social networking company’s stock after purchasing an additional 520 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Meta Platforms were worth $2,235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of META. Telligent Fund LP acquired a new position in Meta Platforms during the 4th quarter worth approximately $6,441,000. RNC Capital Management LLC lifted its position in Meta Platforms by 3.7% during the 4th quarter. RNC Capital Management LLC now owns 2,088 shares of the social networking company’s stock worth $1,223,000 after acquiring an additional 75 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in Meta Platforms by 87,269.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock worth $625,125,000 after acquiring an additional 1,066,437 shares in the last quarter. Ledyard National Bank lifted its position in Meta Platforms by 8.9% during the 4th quarter. Ledyard National Bank now owns 1,507 shares of the social networking company’s stock worth $882,000 after acquiring an additional 123 shares in the last quarter. Finally, 1900 Wealth Management LLC lifted its position in Meta Platforms by 48.9% during the 4th quarter. 1900 Wealth Management LLC now owns 636 shares of the social networking company’s stock worth $372,000 after acquiring an additional 209 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META opened at $719.80 on Wednesday. The firm has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 30.09, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $725.01. The stock’s fifty day moving average is $631.85 and its 200-day moving average is $578.74.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter last year, the business earned $5.33 EPS. Equities analysts anticipate that Meta Platforms, Inc. will post 26.66 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.28%. Meta Platforms’s dividend payout ratio is currently 8.36%.

Insider Activity at Meta Platforms

In related news, insider Nicholas Clegg sold 7,296 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the completion of the transaction, the insider now owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This trade represents a 15.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 756,735 shares of company stock valued at $475,285,232 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. JMP Securities reissued a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. TD Cowen upped their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Susquehanna upped their target price on Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research report on Thursday, January 30th. Truist Financial upped their target price on Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Hsbc Global Res raised Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $717.90.

Meta Platforms 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.