Haven Private LLC Takes $358,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Haven Private LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 612 shares of the social networking company’s stock, valued at approximately $358,000.

Other large investors also recently modified their holdings of the company. Ballentine Partners LLC boosted its position in shares of Meta Platforms by 1.4% in the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock valued at $34,087,000 after acquiring an additional 808 shares during the period. UMB Bank n.a. raised its stake in Meta Platforms by 0.6% in the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock valued at $82,314,000 after purchasing an additional 897 shares in the last quarter. Brueske Advisory Services LLC purchased a new stake in Meta Platforms in the fourth quarter valued at approximately $459,000. Charles Schwab Investment Management Inc. raised its stake in Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after purchasing an additional 118,298 shares in the last quarter. Finally, Apollon Financial LLC raised its stake in Meta Platforms by 11.1% in the fourth quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock valued at $866,000 after purchasing an additional 148 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $622.24, for a total value of $22,351,483.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 4,706 shares of the stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the transaction, the chief operating officer now owns 20,935 shares in the company, valued at $15,422,186.45. This trade represents a 18.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 725,689 shares of company stock worth $473,072,897. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $619.56 on Thursday. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company’s 50-day moving average is $658.13 and its 200 day moving average is $602.08. The company has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating 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 business posted $5.33 EPS. Sell-side analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on META. Mizuho raised their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. UBS Group lifted their price target on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Rosenblatt Securities reissued a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. JPMorgan Chase & Co. lifted their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Cantor Fitzgerald lifted their price target on shares of Meta Platforms from $720.00 to $790.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $719.26.

About Meta Platforms

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.