Impact Capital Partners LLC Takes $2.85 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Impact Capital Partners LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,869 shares of the social networking company’s stock, valued at approximately $2,851,000. Meta Platforms comprises 1.0% of Impact Capital Partners LLC’s investment portfolio, making the stock its 21st biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new position in Meta Platforms during the 3rd quarter worth approximately $36,000. Avondale Wealth Management acquired a new position in Meta Platforms during the fourth quarter worth approximately $41,000. Cordant Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $59,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Meta Platforms during the third quarter worth approximately $70,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. KeyCorp upped their price target on shares of Meta Platforms from $700.00 to $750.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Argus set a $775.00 target price on shares of Meta Platforms in a research note on Tuesday, February 4th. Piper Sandler boosted their price target on Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Wedbush reaffirmed an “outperform” rating and set a $770.00 price objective (up from $700.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Finally, Cantor Fitzgerald lifted their target price on Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $719.26.

Meta Platforms Trading Down 0.4 %

Meta Platforms stock opened at $604.90 on Tuesday. The stock has a 50-day moving average price of $657.51 and a 200 day moving average price of $604.41. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The stock has a market cap of $1.53 trillion, a PE ratio of 25.29, a P/E/G ratio of 1.42 and a beta of 1.23. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results 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 net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the prior year, the firm earned $5.33 earnings per share. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.78%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of Meta Platforms stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $717.72, for a total value of $39,897,337.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 5,060 shares of the stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,727,550.20. Following the transaction, the chief technology officer now owns 5,139 shares in the company, valued at approximately $3,785,747.13. The trade was a 49.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 653,450 shares of company stock worth $427,997,036 over the last quarter. 13.71% of the stock is currently owned by insiders.

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.