Napean Trading & Investment Co Singapore PTE Ltd Has $24.26 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Napean Trading & Investment Co Singapore PTE Ltd grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 41,440 shares of the social networking company’s stock after buying an additional 3,139 shares during the quarter. Meta Platforms accounts for 6.0% of Napean Trading & Investment Co Singapore PTE Ltd’s holdings, making the stock its 3rd biggest position. Napean Trading & Investment Co Singapore PTE Ltd’s holdings in Meta Platforms were worth $24,264,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of META. JDM Financial Group LLC bought a new position in Meta Platforms during the third quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms during the 3rd quarter valued at approximately $36,000. Millstone Evans Group LLC purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $40,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $41,000. Finally, Cordant Inc. purchased a new position in Meta Platforms in the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META opened at $626.31 on Wednesday. The company has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 26.18, a PEG ratio of 1.42 and a beta of 1.23. The business has a 50 day moving average of $656.24 and a 200 day moving average of $608.00. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91.

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

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.34%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio is presently 8.78%.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent research reports. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Monday, January 27th. Bank of America lifted their price objective on Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Pivotal Research upped their price objective on shares of Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a report on Thursday, January 30th. JMP Securities reiterated a “market outperform” rating and issued a $750.00 target price on shares of Meta Platforms in a research note on Monday, January 27th. Finally, Jefferies Financial Group upped their price target on shares of Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $718.31.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,311 shares of Meta Platforms stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $600.21, for a total value of $1,387,085.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 8,553 shares of the business’s stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the sale, the chief financial officer now owns 51,793 shares of the company’s stock, valued at $38,154,349.31. The trade was a 14.17 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 585,605 shares of company stock valued at $386,710,448. 13.71% of the stock is currently owned by insiders.

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.