Blue Chip Partners LLC Buys 31 Shares of Meta Platforms, Inc. (NASDAQ:META)

Blue Chip Partners LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 835 shares of the social networking company’s stock after buying an additional 31 shares during the quarter. Blue Chip Partners LLC’s holdings in Meta Platforms were worth $296,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stone House Investment Management LLC grew its holdings in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares in the last quarter. Gilfoyle & Co LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $39,000. Cranbrook Wealth Management LLC grew its holdings in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares in the last quarter. Beaird Harris Wealth Management LLC grew its holdings in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares in the last quarter. Finally, PayPay Securities Corp grew its holdings in shares of Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the completion of the sale, the chief financial officer now directly owns 76,398 shares of the company’s stock, valued at approximately $36,157,645.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Susan J. Li sold 10,956 shares of Meta Platforms stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the completion of the sale, the chief financial officer now directly owns 76,398 shares of the company’s stock, valued at approximately $36,157,645.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total value of $7,751,361.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,277,048 shares of company stock valued at $620,679,759. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

META opened at $438.50 on Monday. Meta Platforms, Inc. has a 12-month low of $229.85 and a 12-month high of $531.49. The stock has a market cap of $1.12 trillion, a price-to-earnings ratio of 25.46, a PEG ratio of 1.15 and a beta of 1.20. The business has a 50 day moving average of $494.48 and a 200-day moving average of $405.39. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. On average, equities research analysts expect that Meta Platforms, Inc. will post 20.2 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.46%. Meta Platforms’s payout ratio is currently 11.49%.

Analyst Ratings Changes

META has been the topic of several recent analyst reports. Canaccord Genuity Group boosted their price target on Meta Platforms from $450.00 to $540.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Thursday. Guggenheim lowered their price target on Meta Platforms from $520.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday. Evercore ISI upped their price target on Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, Canaccord Genuity Group lowered their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $509.18.

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.