Addison Advisors LLC Raises Holdings in Meta Platforms, Inc. (NASDAQ:META)

Addison Advisors LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 670 shares of the social networking company’s stock after purchasing an additional 25 shares during the quarter. Addison Advisors LLC’s holdings in Meta Platforms were worth $237,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in META. Stone House Investment Management LLC grew its holdings in Meta Platforms by 625.0% in the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after buying an additional 75 shares in the last quarter. Beaird Harris Wealth Management LLC grew its holdings in Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after buying an additional 42 shares in the last quarter. PayPay Securities Corp grew its holdings in Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after buying an additional 43 shares in the last quarter. Cranbrook Wealth Management LLC grew its holdings in Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after buying an additional 45 shares in the last quarter. Finally, Gilfoyle & Co LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $39,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total transaction of $287,381.25. Following the transaction, the insider now owns 37,228 shares in the company, valued at approximately $18,288,255. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total value of $287,381.25. Following the transaction, the insider now directly owns 37,228 shares in the company, valued at approximately $18,288,255. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $501.18, for a total value of $245,578.20. Following the completion of the transaction, the chief operating officer now owns 7,089 shares in the company, valued at $3,552,865.02. The disclosure for this sale can be found here. Insiders have sold 1,349,148 shares of company stock worth $649,552,559 in the last quarter. 13.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Susquehanna upped their target price on Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a report on Friday, February 2nd. Citigroup decreased their price target on Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a research note on Thursday. Monness Crespi & Hardt upped their price target on Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. The Goldman Sachs Group decreased their price target on Meta Platforms from $555.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Canaccord Genuity Group upped 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $509.18.

Meta Platforms Stock Up 0.4 %

Shares of META traded up $1.91 during mid-day trading on Friday, reaching $443.29. The company’s stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. 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 $1.13 trillion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.67. The company’s 50 day moving average is $494.48 and its 200 day moving average is $404.27.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Equities analysts anticipate that Meta Platforms, Inc. will post 20.33 EPS for the current fiscal 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 paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. Meta Platforms’s dividend payout ratio is presently 11.49%.

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.