Meta Platforms, Inc. (NASDAQ:META) Position Increased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 3.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,960 shares of the social networking company’s stock after acquiring an additional 529 shares during the period. Pallas Capital Advisors LLC’s holdings in Meta Platforms were worth $5,295,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Fairfield Bush & CO. acquired a new stake in Meta Platforms in the first quarter worth about $66,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Meta Platforms by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,244,201 shares of the social networking company’s stock worth $499,020,000 after purchasing an additional 249,926 shares during the period. Ergoteles LLC lifted its holdings in Meta Platforms by 284.0% in the first quarter. Ergoteles LLC now owns 3,356 shares of the social networking company’s stock worth $746,000 after purchasing an additional 2,482 shares during the period. First Western Trust Bank acquired a new stake in Meta Platforms in the first quarter worth about $813,000. Finally, Oxford Financial Group Ltd. lifted its holdings in Meta Platforms by 26.9% in the first quarter. Oxford Financial Group Ltd. now owns 1,888 shares of the social networking company’s stock worth $420,000 after purchasing an additional 400 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the sale, the chief operating officer now owns 79,944 shares in the company, valued at $39,015,070.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the sale, the chief operating officer now owns 79,944 shares in the company, valued at $39,015,070.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms stock in a transaction on 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 owns 18,432 shares in the company, valued at approximately $8,723,496.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,502,805 shares of company stock worth $703,056,383. Insiders own 14.03% of the company’s stock.

Meta Platforms Trading Up 1.2 %

NASDAQ:META opened at $491.35 on Tuesday. Meta Platforms, Inc. has a 12 month low of $207.13 and a 12 month high of $523.57. The firm has a market cap of $1.25 trillion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 1.25 and a beta of 1.20. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $471.26 and its 200-day moving average is $379.61.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion for the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. Meta Platforms’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the company posted $3.00 earnings per share. Equities analysts anticipate that Meta Platforms, Inc. will post 19.94 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a dividend yield of 0.41%. Meta Platforms’s payout ratio is 13.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on META shares. Wedbush upped their price target on shares of Meta Platforms from $420.00 to $520.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Citigroup upped their price target on shares of Meta Platforms from $440.00 to $525.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Meta Platforms from $450.00 to $525.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Royal Bank of Canada upped their price target on shares of Meta Platforms from $400.00 to $565.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, TD Cowen upped their price target on shares of Meta Platforms from $415.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $496.35.

Check Out Our Latest Stock Report on META

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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