Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Rovin Capital UT ADV

Rovin Capital UT ADV raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 25.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,318 shares of the social networking company’s stock after acquiring an additional 266 shares during the period. Rovin Capital UT ADV’s holdings in Meta Platforms were worth $772,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. JDM Financial Group LLC purchased a new position in Meta Platforms during the third quarter worth about $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms in the third quarter valued at approximately $36,000. Avondale Wealth Management acquired a new position in Meta Platforms during the fourth quarter worth approximately $41,000. Halpern Financial Inc. acquired a new position in shares of Meta Platforms in the 3rd quarter valued at $46,000. Finally, West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $611.30 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market cap of $1.54 trillion, a P/E ratio of 28.79, a PEG ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a 12 month low of $358.61 and a 12 month high of $638.40. The stock has a fifty day moving average price of $595.92 and a 200 day moving average price of $555.25.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. On average, research analysts forecast that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on META. Roth Mkm boosted their price target on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Wolfe Research increased their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Barclays lifted their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $650.05.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total value of $520,103.50. Following the completion of the sale, the insider now owns 32,387 shares of the company’s stock, valued at $18,612,808.90. This represents a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the transaction, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 496,174 shares of company stock valued at $301,408,499 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

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.