Jones Financial Companies Lllp Acquires 54,977 Shares of Meta Platforms, Inc. $META

Jones Financial Companies Lllp increased its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 15.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 421,626 shares of the social networking company’s stock after purchasing an additional 54,977 shares during the period. Jones Financial Companies Lllp’s holdings in Meta Platforms were worth $313,122,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after acquiring an additional 570 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after purchasing an additional 875 shares in the last quarter. Headwater Capital Co Ltd raised its position in Meta Platforms by 294.7% during the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock valued at $86,454,000 after purchasing an additional 112,000 shares in the last quarter. Dymon Asia Capital Singapore PTE. LTD. bought a new stake in Meta Platforms during the second quarter worth about $213,000. Finally, Capital & Planning LLC purchased a new position in shares of Meta Platforms in the 2nd quarter worth about $322,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Down 1.0%

Shares of NASDAQ META opened at $670.72 on Wednesday. The firm’s fifty day moving average is $657.96 and its 200 day moving average is $694.43. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27. The company has a market cap of $1.70 trillion, a price-to-earnings ratio of 28.54, a PEG ratio of 1.16 and a beta of 1.28.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The social networking company reported $8.88 earnings per share for the quarter, beating the consensus estimate of $8.16 by $0.72. Meta Platforms had a net margin of 30.08% and a return on equity of 38.61%. The business had revenue of $59.89 billion during the quarter, compared to analysts’ expectations of $58.33 billion. During the same quarter in the prior year, the company posted $8.02 EPS. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Investors of record on Monday, December 15th were paid a $0.525 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.94%.

Insider Activity at Meta Platforms

In other news, CFO Susan J. Li sold 6,875 shares of Meta Platforms stock in a transaction that occurred on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $4,190,037.50. Following the sale, the chief financial officer directly owned 88,370 shares in the company, valued at approximately $53,857,980.20. This trade represents a 7.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 11,690 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total value of $6,935,793.90. Following the transaction, the chief technology officer directly owned 2,415 shares in the company, valued at $1,432,843.65. This trade represents a 82.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 38,561 shares of company stock worth $23,673,584 over the last 90 days. 13.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on META shares. UBS Group reissued a “buy” rating and set a $872.00 price objective (up from $830.00) on shares of Meta Platforms in a report on Thursday, January 29th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Meta Platforms from $880.00 to $920.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Needham & Company LLC reissued a “hold” rating on shares of Meta Platforms in a research note on Thursday, January 29th. Zacks Research cut shares of Meta Platforms from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 18th. Finally, Citizens Jmp reaffirmed an “outperform” rating and set a $900.00 target price (up previously from $750.00) on shares of Meta Platforms in a report on Monday, November 24th. Three analysts have rated the stock with a Strong Buy rating, forty have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $845.50.

Get Our Latest Stock Analysis on META

Key Headlines Impacting Meta Platforms

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About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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