Panoramic Capital LLC Buys New Position in Meta Platforms, Inc. (NASDAQ:META)

Panoramic Capital LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 16,478 shares of the social networking company’s stock, valued at approximately $9,648,000. Meta Platforms comprises 5.2% of Panoramic Capital LLC’s holdings, making the stock its largest holding.

A number of other hedge funds also recently modified their holdings of META. Millstone Evans Group LLC bought a new position in shares of Meta Platforms during the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms during the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in Meta Platforms during the 4th quarter valued at $45,000. Cordant Inc. bought a new position in shares of Meta Platforms in the 4th quarter worth $59,000. Finally, Conquis Financial LLC bought a new position in shares of Meta Platforms in the 4th quarter worth $59,000. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Roth Capital raised their price target on Meta Platforms from $580.00 to $620.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. Stifel Nicolaus lifted their target price on Meta Platforms from $628.00 to $655.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Arete Research upgraded Meta Platforms to a “hold” rating in a report on Friday, January 24th. Finally, Moffett Nathanson lifted their target price on Meta Platforms from $525.00 to $605.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $696.45.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $656.03 on Wednesday. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The business has a 50-day moving average price of $569.09 and a two-hundred day moving average price of $605.57. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The company has a market cap of $1.66 trillion, a P/E ratio of 27.43, a PEG ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period last year, the business posted $4.71 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were given a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.32%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,668 shares of Meta Platforms stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $734.49, for a total transaction of $14,445,949.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 8,553 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the transaction, the chief financial officer now directly owns 51,793 shares in the company, valued at approximately $38,154,349.31. This represents a 14.17% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,324 shares of company stock valued at $68,637,452. 13.71% of the stock is owned by corporate insiders.

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.