Meta Platforms, Inc. (NASDAQ:META) is Synergy Asset Management LLC’s 6th Largest Position

Synergy Asset Management LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 113.1% in the 4th quarter, Holdings Channel reports. The firm owned 65,932 shares of the social networking company’s stock after buying an additional 34,991 shares during the quarter. Meta Platforms accounts for approximately 3.0% of Synergy Asset Management LLC’s portfolio, making the stock its 6th biggest position. Synergy Asset Management LLC’s holdings in Meta Platforms were worth $38,680,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Ballentine Partners LLC grew its holdings in shares of Meta Platforms by 1.4% in the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock worth $34,087,000 after purchasing an additional 808 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Meta Platforms by 0.6% in the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock worth $82,314,000 after buying an additional 897 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after buying an additional 118,298 shares in the last quarter. LS Investment Advisors LLC raised its holdings in shares of Meta Platforms by 111.4% in the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after acquiring an additional 6,155 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. lifted its stake in Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $689.18 on Monday. The company has a market cap of $1.74 trillion, a P/E ratio of 28.81, a PEG ratio of 1.35 and a beta of 1.19. The business has a 50-day moving average price of $613.60 and a two-hundred day moving average price of $567.04. 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, Inc. has a 1-year low of $387.10 and a 1-year high of $710.79.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 39.74% and a net margin of 37.91%. During the same quarter last year, the company posted $5.33 earnings per share. As a group, analysts anticipate that Meta Platforms, Inc. will post 25.44 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.29%. Meta Platforms’s dividend payout ratio is currently 8.36%.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $673.57, for a total value of $24,195,307.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 661,804 shares of company stock worth $407,745,741 in the last quarter. 13.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

META has been the topic of a number of recent research reports. Citigroup increased their price objective on shares of Meta Platforms from $753.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday. Guggenheim boosted their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. The Goldman Sachs Group boosted their target price on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald lifted their price objective on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, BMO Capital Markets increased their target price on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research report on Thursday. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $710.83.

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.