Stonekeep Investments LLC Has $906,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

Stonekeep Investments LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,548 shares of the social networking company’s stock after purchasing an additional 32 shares during the quarter. Meta Platforms comprises approximately 0.7% of Stonekeep Investments LLC’s portfolio, making the stock its 23rd biggest holding. Stonekeep Investments LLC’s holdings in Meta Platforms were worth $906,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. JDM Financial Group LLC bought a new stake in shares of Meta Platforms in the third quarter valued at about $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms during the 3rd quarter worth approximately $36,000. Avondale Wealth Management bought a new position in shares of Meta Platforms during the fourth quarter worth approximately $41,000. Halpern Financial Inc. bought a new stake in shares of Meta Platforms in the third quarter valued at approximately $46,000. Finally, West Financial Advisors LLC acquired a new stake in Meta Platforms during the third quarter worth approximately $49,000. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $604.69, for a total transaction of $21,721,069.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $604.54, for a total value of $547,108.70. Following the completion of the sale, the insider now owns 31,105 shares in the company, valued at $18,804,216.70. This represents a 2.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 496,174 shares of company stock worth $301,408,499 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.2 %

META opened at $612.77 on Monday. Meta Platforms, Inc. has a fifty-two week low of $370.95 and a fifty-two week high of $638.40. The firm has a market capitalization of $1.55 trillion, a P/E ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19. The company’s 50-day moving average is $596.78 and its 200 day moving average is $557.04. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm 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%. Research analysts expect that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Wall Street Analyst Weigh In

META has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a research report on Wednesday, October 16th. Wells Fargo & Company increased their price objective on shares of Meta Platforms from $641.00 to $685.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Bank of America lifted their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley upped their target price on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, four have given 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 presently has an average rating of “Moderate Buy” and an average target price of $650.05.

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.