Meta Platforms, Inc. $META Stake Boosted by Nilsine Partners LLC

Nilsine Partners LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.8% during the fourth quarter, Holdings Channel reports. The firm owned 17,714 shares of the social networking company’s stock after buying an additional 1,289 shares during the period. Meta Platforms comprises about 1.0% of Nilsine Partners LLC’s holdings, making the stock its 19th largest position. Nilsine Partners LLC’s holdings in Meta Platforms were worth $11,693,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in META. Brighton Jones LLC increased its position in Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after buying an additional 570 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after acquiring an additional 875 shares during the last quarter. Headwater Capital Co Ltd grew its position in shares of Meta Platforms by 294.7% during the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock worth $86,454,000 after acquiring an additional 112,000 shares during the last quarter. Dymon Asia Capital Singapore PTE. LTD. acquired a new stake in shares of Meta Platforms in the 2nd quarter worth about $213,000. Finally, Capital & Planning LLC acquired a new stake in shares of Meta Platforms in the 2nd quarter worth about $322,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META opened at $573.02 on Tuesday. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The firm has a market capitalization of $1.45 trillion, a PE ratio of 24.38, a P/E/G ratio of 0.89 and a beta of 1.31. The company’s 50 day simple moving average is $635.80 and its 200 day simple moving average is $657.61. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.60 and a quick ratio of 2.60.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, topping analysts’ consensus estimates of $8.16 by $0.72. The firm had revenue of $59.89 billion during the quarter, compared to the consensus estimate of $58.33 billion. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.02 earnings per share. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Monday, March 16th were issued a $0.525 dividend. The ex-dividend date was Monday, March 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. Meta Platforms’s dividend payout ratio is 8.94%.

Analyst Upgrades and Downgrades

META has been the subject of a number of analyst reports. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $1,117.00 to $1,144.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $810.00 price target on shares of Meta Platforms in a report on Thursday, January 29th. Roth Mkm reduced their price objective on Meta Platforms from $850.00 to $800.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Arete Research reissued a “neutral” rating on shares of Meta Platforms in a report on Thursday, March 5th. Finally, Scotiabank raised their target price on Meta Platforms from $685.00 to $700.00 and gave the company a “sector perform” rating in a research report on Thursday, January 29th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $843.57.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 2,461 shares of Meta Platforms stock in a transaction dated Sunday, February 15th. The stock was sold at an average price of $639.77, for a total transaction of $1,574,473.97. Following the transaction, the chief operating officer directly owned 12,108 shares of the company’s stock, valued at $7,746,335.16. The trade was a 16.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 56,571 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $644.70, for a total transaction of $36,471,323.70. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,931 shares of company stock valued at $102,997,526 over the last 90 days. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Company Profile

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.