Myecfo LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Myecfo LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 767 shares of the social networking company’s stock after buying an additional 24 shares during the quarter. Myecfo LLC’s holdings in Meta Platforms were worth $449,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. JDM Financial Group LLC acquired a new stake in Meta Platforms in the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms during the 3rd quarter worth $36,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms in the fourth quarter worth about $41,000. Halpern Financial Inc. acquired a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $46,000. Finally, West Financial Advisors LLC acquired a new stake in Meta Platforms in the third quarter valued at $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 2.3 %

NASDAQ META opened at $594.25 on Wednesday. The firm’s 50 day moving average price is $595.02 and its two-hundred day moving average price is $554.81. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a twelve month low of $358.61 and a twelve month high of $638.40. The stock has a market cap of $1.50 trillion, a price-to-earnings ratio of 27.99, a PEG ratio of 1.36 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Analysts Set New Price Targets

Several analysts have issued reports on META shares. Roth Mkm upped their price objective on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Morgan Stanley raised their target price on Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research note on Monday. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Finally, BMO Capital Markets upped their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $650.05.

Insider Transactions at Meta Platforms

In other news, insider Nicholas Clegg sold 1,131 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $652,767.96. Following the completion of the sale, the insider now directly owns 1,229 shares of the company’s stock, valued at $709,329.64. This trade represents a 47.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the sale, the chief financial officer now directly owns 51,591 shares of the company’s stock, valued at approximately $29,776,261.56. The trade was a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 423,427 shares of company stock valued at $256,996,450 over the last three months. 13.71% of the stock is owned by corporate 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.