Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Red Spruce Capital LLC

Red Spruce Capital LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,974 shares of the social networking company’s stock after acquiring an additional 115 shares during the period. Meta Platforms makes up approximately 2.3% of Red Spruce Capital LLC’s investment portfolio, making the stock its 10th largest position. Red Spruce Capital LLC’s holdings in Meta Platforms were worth $5,254,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in shares of Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC grew its position in Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after acquiring an additional 4,126,190 shares during the last quarter. World Investment Advisors LLC raised its stake in Meta Platforms by 4,658.5% during the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after acquiring an additional 890,434 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after purchasing an additional 661,923 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Trading Up 1.7 %

Shares of Meta Platforms stock opened at $647.49 on Friday. The company has a market capitalization of $1.63 trillion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The stock has a fifty day simple moving average of $601.93 and a 200 day simple moving average of $560.12. Meta Platforms, Inc. has a 12-month low of $385.66 and a 12-month high of $652.00. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced 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. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Nicholas Clegg sold 7,296 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.48, for a total value of $4,038,190.08. Following the transaction, the insider now owns 38,695 shares of the company’s stock, valued at approximately $21,416,908.60. The trade was a 15.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. The disclosure for this sale can be found here. Insiders have sold 568,016 shares of company stock worth $346,031,180 in the last 90 days. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on META. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Jefferies Financial Group boosted their price objective on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Cantor Fitzgerald lowered their target price on Meta Platforms from $730.00 to $720.00 and set an “overweight” rating for the company in a research report on Wednesday. Raymond James upped their price target on Meta Platforms from $675.00 to $725.00 and gave the company a “strong-buy” rating in a research report on Tuesday. Finally, Robert W. Baird raised their price objective on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Two equities research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $654.20.

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.