Sava Infond d.o.o. Makes New $21.13 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Sava Infond d.o.o. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, Holdings Channel.com reports. The fund acquired 36,090 shares of the social networking company’s stock, valued at approximately $21,131,000. Meta Platforms accounts for approximately 3.7% of Sava Infond d.o.o.’s holdings, making the stock its 9th largest holding.

Several other large investors have also added to or reduced their stakes in the stock. Howard Capital Management Group LLC increased its holdings in shares of Meta Platforms by 17.9% in the third quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company’s stock worth $946,000 after purchasing an additional 251 shares during the period. Principal Financial Group Inc. increased its stake in Meta Platforms by 6.5% in the 3rd quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company’s stock worth $1,928,185,000 after acquiring an additional 204,412 shares during the last quarter. United Bank raised its holdings in shares of Meta Platforms by 22.2% in the 3rd quarter. United Bank now owns 5,569 shares of the social networking company’s stock valued at $3,188,000 after acquiring an additional 1,011 shares in the last quarter. Blue Investment Partners LLC boosted its position in shares of Meta Platforms by 10.8% during the 3rd quarter. Blue Investment Partners LLC now owns 8,358 shares of the social networking company’s stock valued at $4,784,000 after acquiring an additional 813 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in shares of Meta Platforms by 3.4% during the third quarter. D.A. Davidson & CO. now owns 71,472 shares of the social networking company’s stock worth $40,914,000 after purchasing an additional 2,333 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on META. Rosenblatt Securities reiterated a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a research report on Monday, January 27th. Barclays upped their target price on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Jefferies Financial Group raised their price target on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Bank of America increased their price objective on Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Finally, Truist Financial boosted their target price on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $718.31.

Meta Platforms Stock Down 1.4 %

NASDAQ:META opened at $602.58 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market cap of $1.53 trillion, a P/E ratio of 25.19, a P/E/G ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The firm has a 50-day simple moving average of $655.95 and a two-hundred day simple moving average of $607.98.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the prior year, the company earned $5.33 earnings per share. Analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a dividend of $0.525 per share. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms’s dividend payout ratio is presently 8.78%.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $591.76, for a total value of $535,542.80. Following the sale, the insider now owns 32,915 shares in the company, valued at approximately $19,477,780.40. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 55,589 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. Insiders have sold 584,823 shares of company stock valued at $386,274,777 over the last ninety days. Insiders own 13.71% of the company’s stock.

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.