Relyea Zuckerberg Hanson LLC Acquires 664 Shares of Meta Platforms, Inc. (NASDAQ:META)

Relyea Zuckerberg Hanson LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,768 shares of the social networking company’s stock after buying an additional 664 shares during the quarter. Relyea Zuckerberg Hanson LLC’s holdings in Meta Platforms were worth $3,963,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in META. International Assets Investment Management LLC grew its position in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after buying an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC grew its position in shares of Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares during the period. World Investment Advisors LLC grew its position in shares of Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after buying an additional 890,434 shares during the period. Geode Capital Management LLC grew 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 period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Meta Platforms by 926.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock worth $369,774,000 after buying an additional 661,923 shares during the period. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of several recent analyst reports. Monness Crespi & Hardt raised their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Citigroup lifted their price target on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wolfe Research lifted their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Barclays lifted their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $650.05.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total transaction of $22,746,973.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total value of $520,103.50. Following the sale, the insider now directly owns 32,387 shares of the company’s stock, valued at approximately $18,612,808.90. This trade represents a 2.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 496,174 shares of company stock worth $301,408,499 over the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.2 %

META stock opened at $612.77 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $596.78 and its 200 day moving average is $556.71. The stock has a market cap of $1.55 trillion, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a 1-year low of $370.95 and a 1-year high of $638.40.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms’s payout ratio is currently 9.42%.

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.