Diversified Enterprises LLC Has $1.88 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Diversified Enterprises LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,211 shares of the social networking company’s stock after buying an additional 291 shares during the period. Diversified Enterprises LLC’s holdings in Meta Platforms were worth $1,880,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. JDM Financial Group LLC acquired a new position in Meta Platforms during the third quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms during the third quarter valued at about $36,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms during the fourth quarter worth about $41,000. Cordant Inc. acquired a new stake in shares of Meta Platforms in the 4th quarter worth about $59,000. Finally, Bear Mountain Capital Inc. bought a new position in Meta Platforms in the 4th quarter valued at about $70,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $582.36 on Wednesday. The stock has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 24.35, a PEG ratio of 1.42 and a beta of 1.23. The firm’s 50-day moving average price is $656.80 and its two-hundred day moving average price is $604.84. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm posted $5.33 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a $0.525 dividend. 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. This represents a $2.10 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on META. Robert W. Baird raised their target price on Meta Platforms from $680.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. BMO Capital Markets lifted their price objective on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Monday, January 27th. Cantor Fitzgerald boosted their price target on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Bank of America increased their price objective on shares of Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $718.31.

Insider Activity at Meta Platforms

In other news, CFO Susan J. Li sold 8,553 shares of Meta Platforms stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the sale, the chief financial officer now owns 51,793 shares of the company’s stock, valued at approximately $38,154,349.31. The trade was a 14.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 10,100 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $601.54, for a total transaction of $6,075,554.00. The disclosure for this sale can be found here. Insiders have sold a total of 631,415 shares of company stock worth $414,365,524 over the last quarter. Corporate insiders own 13.71% of the company’s stock.

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.