Magnus Financial Group LLC Buys 450 Shares of Meta Platforms, Inc. (NASDAQ:META)

Magnus Financial Group LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 7.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,687 shares of the social networking company’s stock after acquiring an additional 450 shares during the period. Magnus Financial Group LLC’s holdings in Meta Platforms were worth $2,367,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of META. Convergence Investment Partners LLC lifted its position in Meta Platforms by 9.9% during the 4th quarter. Convergence Investment Partners LLC now owns 7,140 shares of the social networking company’s stock valued at $2,527,000 after purchasing an additional 645 shares during the period. Little House Capital LLC raised its stake in shares of Meta Platforms by 28.6% during the fourth quarter. Little House Capital LLC now owns 8,252 shares of the social networking company’s stock worth $2,921,000 after buying an additional 1,835 shares during the last quarter. Legacy Capital Wealth Partners LLC lifted its holdings in Meta Platforms by 6.0% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 3,279 shares of the social networking company’s stock valued at $1,161,000 after buying an additional 187 shares during the period. Intellectus Partners LLC grew its holdings in Meta Platforms by 7.1% during the 4th quarter. Intellectus Partners LLC now owns 23,487 shares of the social networking company’s stock worth $8,313,000 after acquiring an additional 1,559 shares during the period. Finally, Vance Wealth Inc. raised its position in shares of Meta Platforms by 4.4% during the 4th quarter. Vance Wealth Inc. now owns 2,569 shares of the social networking company’s stock valued at $909,000 after acquiring an additional 108 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on META shares. Piper Sandler restated an “overweight” rating and set a $545.00 target price (down previously from $600.00) on shares of Meta Platforms in a report on Thursday. JMP Securities reaffirmed a “market outperform” rating and issued a $550.00 target price on shares of Meta Platforms in a research note on Monday, April 22nd. Jefferies Financial Group reduced their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research report on Thursday. Royal Bank of Canada lowered their price objective on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Oppenheimer reduced their target price on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $509.18.

Meta Platforms Stock Performance

META stock traded up $1.91 during trading hours on Friday, reaching $443.29. The stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. The stock has a market capitalization of $1.13 trillion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.13 and a beta of 1.20. The stock has a 50-day simple moving average of $494.48 and a 200 day simple moving average of $404.85. Meta Platforms, Inc. has a fifty-two week low of $229.85 and a fifty-two week high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.67.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Analysts predict that Meta Platforms, Inc. will post 20.2 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, CTO Andrew Bosworth sold 8,036 shares of the business’s 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 $3,803,278.08. Following the completion of the sale, the chief technology officer now owns 18,432 shares in the company, valued at $8,723,496.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Javier Olivan sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $400.00, for a total transaction of $2,600,000.00. Following the transaction, the chief operating officer now directly owns 68,935 shares of the company’s stock, valued at $27,574,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the sale, the chief technology officer now owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The disclosure for this sale can be found here. Insiders sold 1,349,148 shares of company stock valued at $649,552,559 in the last quarter. 13.75% 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.