Center For Asset Management LLC Raises Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Center For Asset Management LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.3% during the 4th quarter, Holdings Channel reports. The firm owned 4,367 shares of the social networking company’s stock after buying an additional 479 shares during the quarter. Meta Platforms comprises 1.7% of Center For Asset Management LLC’s portfolio, making the stock its 15th largest holding. Center For Asset Management LLC’s holdings in Meta Platforms were worth $2,557,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. JDM Financial Group LLC purchased a new stake in Meta Platforms in the third quarter valued at $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms in the third quarter worth about $36,000. Avondale Wealth Management acquired a new stake in Meta Platforms during the fourth quarter worth about $41,000. Halpern Financial Inc. purchased a new position in Meta Platforms during the third quarter valued at approximately $46,000. Finally, West Financial Advisors LLC acquired a new position in Meta Platforms in the third quarter valued at approximately $49,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 1.6 %

NASDAQ META opened at $687.00 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 stock has a market capitalization of $1.73 trillion, a P/E ratio of 32.36, a PEG ratio of 1.18 and a beta of 1.19. The firm’s 50-day moving average is $611.00 and its two-hundred day moving average is $564.44. Meta Platforms, Inc. has a 12 month low of $387.10 and a 12 month high of $710.79.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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 35.55% and a return on equity of 35.60%. During the same period last year, the company posted $5.33 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.29%. Meta Platforms’s payout ratio is presently 9.42%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on META shares. The Goldman Sachs Group raised their price objective on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday. UBS Group lifted their price objective on shares of Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a report on Thursday. KeyCorp increased their target price on shares of Meta Platforms from $700.00 to $750.00 and gave the stock an “overweight” rating in a research note on Wednesday. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Monday. Finally, Jefferies Financial Group increased their price target on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $706.76.

Insider Activity at Meta Platforms

In other news, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total value of $21,838,890.37. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 661,804 shares of company stock worth $407,745,741. 13.71% of the stock is currently owned by company 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.