686 Shares in Meta Platforms, Inc. (NASDAQ:META) Bought by Acas LLC

Acas LLC bought a new position in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 686 shares of the social networking company’s stock, valued at approximately $243,000.

Other institutional investors also recently bought and sold shares of the company. Stone House Investment Management LLC raised its holdings in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after acquiring an additional 75 shares during the period. Beaird Harris Wealth Management LLC raised its holdings in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the period. PayPay Securities Corp raised its holdings in Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 43 shares during the period. Cranbrook Wealth Management LLC raised its holdings in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares during the period. Finally, Gilfoyle & Co LLC bought a new stake in shares of Meta Platforms in the fourth quarter worth about $39,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Down 12.1 %

NASDAQ:META traded down $59.67 during midday trading on Thursday, hitting $433.83. 35,054,114 shares of the company were exchanged, compared to its average volume of 17,512,055. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.11 trillion, a PE ratio of 28.61, a price-to-earnings-growth ratio of 1.27 and a beta of 1.20. Meta Platforms, Inc. has a fifty-two week low of $208.88 and a fifty-two week high of $531.49. The company has a fifty day simple moving average of $495.93 and a 200 day simple moving average of $403.14.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 20.18 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is currently 13.42%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on META shares. JPMorgan Chase & Co. reduced their target price on Meta Platforms from $535.00 to $480.00 and set an “overweight” rating on the stock in a report on Thursday. Roth Mkm reaffirmed a “buy” rating and issued a $500.00 target price on shares of Meta Platforms in a report on Monday, March 18th. Bank of America lifted their target price on Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Morgan Stanley lifted their target price on Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Finally, Robert W. Baird dropped their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $513.43.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 97,093 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of Meta Platforms stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $469.67, for a total transaction of $45,601,669.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,368,244 shares of company stock valued at $657,034,449. Corporate insiders own 13.75% of the company’s stock.

About Meta Platforms

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.