861 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Syverson Strege & Co

Syverson Strege & Co bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 861 shares of the social networking company’s stock, valued at approximately $504,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Meta Platforms by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares during the period. Geode Capital Management LLC lifted its position in shares of Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Meta Platforms by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock valued at $8,344,552,000 after acquiring an additional 424,201 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Meta Platforms by 2.8% in the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after purchasing an additional 186,728 shares during the period. Finally, Fisher Asset Management LLC grew its position in shares of Meta Platforms by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock worth $3,908,382,000 after acquiring an additional 110,040 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on META. Cantor Fitzgerald boosted their price target on Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Mizuho raised their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Jefferies Financial Group upped their target price on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a report on Monday, January 6th. JPMorgan Chase & Co. increased their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research report on Wednesday, December 18th. Finally, Piper Sandler lifted their price objective on Meta Platforms from $670.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $718.31.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $677.71, for a total value of $13,554,200.00. Following the transaction, the insider now owns 308,686 shares of the company’s stock, valued at approximately $209,199,589.06. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 585,605 shares of company stock valued at $386,710,448 in the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 1.2 %

META stock opened at $626.31 on Wednesday. The company has a market capitalization of $1.59 trillion, a P/E ratio of 26.18, a PEG ratio of 1.42 and a beta of 1.23. The firm has a 50 day simple moving average of $656.24 and a 200-day simple moving average of $608.00. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping 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 period in the prior year, the company posted $5.33 earnings per share. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. The ex-dividend date is Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.34%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.78%.

Meta Platforms Company 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.