BluePointe Capital Management LLC Has $1.95 Million Position in Meta Platforms, Inc. (NASDAQ:META)

BluePointe Capital Management LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 24.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,326 shares of the social networking company’s stock after purchasing an additional 656 shares during the period. Meta Platforms accounts for 1.1% of BluePointe Capital Management LLC’s portfolio, making the stock its 27th largest holding. BluePointe Capital Management LLC’s holdings in Meta Platforms were worth $1,947,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Seelaus Asset Management LLC raised its position in shares of Meta Platforms by 0.9% in the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after buying an additional 15 shares in the last quarter. Meredith Wealth Planning increased its stake in Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after acquiring an additional 15 shares during the period. Maiden Cove Capital LLC raised its holdings in Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after acquiring an additional 15 shares in the last quarter. Stephens Consulting LLC lifted its position in shares of Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after acquiring an additional 16 shares during the period. Finally, VeraBank N.A. grew its holdings in shares of Meta Platforms by 0.8% during the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock worth $1,144,000 after purchasing an additional 16 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

META stock opened at $596.25 on Friday. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year 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 stock has a 50-day moving average price of $655.38 and a 200-day moving average price of $605.74. The firm has a market cap of $1.51 trillion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share 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 period in the prior year, the company earned $5.33 earnings per share. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is presently 8.78%.

Insider Buying and Selling

In other news, COO Javier Olivan sold 413 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $589.16, for a total transaction of $243,323.08. Following the transaction, the chief operating officer now owns 17,514 shares of the company’s stock, valued at $10,318,548.24. This represents a 2.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $604.46, for a total value of $21,712,807.66. The disclosure for this sale can be found here. Insiders have sold a total of 622,844 shares of company stock valued at $409,212,161 over the last ninety days. 13.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on META shares. Susquehanna upped their price objective on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a research report on Thursday, January 30th. Wedbush reiterated an “outperform” rating and set a $770.00 price target (up previously from $700.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Cantor Fitzgerald boosted their price objective on shares of Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. UBS Group raised their target price on Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Argus set a $775.00 price objective on Meta Platforms in a research report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $718.31.

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.