Navigoe LLC Acquires New Holdings in Meta Platforms, Inc. (NASDAQ:META)

Navigoe LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,150 shares of the social networking company’s stock, valued at approximately $1,258,000. Meta Platforms makes up about 1.2% of Navigoe LLC’s investment portfolio, making the stock its 16th largest holding.

Several other large investors have also modified their holdings of the business. Millstone Evans Group LLC purchased a new position in Meta Platforms during the fourth quarter worth about $40,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the 4th quarter valued at about $41,000. WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the 4th quarter valued at about $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth about $45,000. Finally, Cordant Inc. purchased a new stake in Meta Platforms in the fourth quarter valued at approximately $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on META. Guggenheim dropped their price objective on Meta Platforms from $750.00 to $675.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Mizuho raised their price objective on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. JMP Securities reiterated a “market outperform” rating and set a $750.00 target price on shares of Meta Platforms in a report on Monday, January 27th. Roth Capital reaffirmed a “buy” rating on shares of Meta Platforms in a research report on Tuesday, April 22nd. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, April 23rd. Two equities research 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. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $681.95.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $554.44 on Wednesday. Meta Platforms, Inc. has a 12-month low of $427.11 and a 12-month high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.40 trillion, a PE ratio of 23.18, a P/E/G ratio of 1.42 and a beta of 1.28. The stock has a 50 day simple moving average of $581.11 and a 200-day simple moving average of $604.05.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter last year, the firm posted $5.33 earnings per share. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was 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 Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $491.87, for a total transaction of $453,012.27. Following the completion of the transaction, the insider now directly owns 27,498 shares of the company’s stock, valued at approximately $13,525,441.26. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 4,706 shares of the company’s stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,466,769.02. Following the completion of the sale, the chief operating officer now owns 20,935 shares of the company’s stock, valued at approximately $15,422,186.45. This trade represents a 18.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 248,463 shares of company stock valued at $175,403,314. Company insiders own 13.71% of the company’s stock.

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.