Fedenia Advisers LLC Has $965,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

Fedenia Advisers LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 34.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,675 shares of the social networking company’s stock after buying an additional 427 shares during the quarter. Fedenia Advisers LLC’s holdings in Meta Platforms were worth $965,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock valued at $111,948,344,000 after buying an additional 1,502,553 shares during the period. Geode Capital Management LLC raised its position in shares of Meta Platforms by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock worth $28,719,970,000 after purchasing an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Meta Platforms by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock worth $24,777,282,000 after purchasing an additional 1,049,121 shares during the period. Capital World Investors raised its position in shares of Meta Platforms by 2.9% during the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares during the period. Finally, Norges Bank acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $19,949,512,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.5%

NASDAQ:META opened at $716.91 on Friday. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90. The stock’s 50 day moving average price is $658.89 and its two-hundred day moving average price is $630.04. The firm has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 27.96, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the company posted $4.71 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. Meta Platforms’s dividend payout ratio is currently 8.19%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on META. JMP Securities reaffirmed a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price target on Meta Platforms from $675.00 to $735.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 4th. Monness Crespi & Hardt raised their price target on Meta Platforms from $775.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Rosenblatt Securities raised their price target on Meta Platforms from $846.00 to $918.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Finally, TD Securities dropped their price target on Meta Platforms from $725.00 to $700.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $719.29.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the transaction, the chief executive officer directly owned 118,279 shares in the company, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares of the company’s stock, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 154,285 shares of company stock worth $105,518,153. 13.61% of the stock is owned by company insiders.

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.