6,201 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Inkwell Capital LLC

Inkwell Capital LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,201 shares of the social networking company’s stock, valued at approximately $3,631,000. Meta Platforms accounts for approximately 3.9% of Inkwell Capital LLC’s holdings, making the stock its 11th biggest position.

Other institutional investors also recently bought and sold shares of the company. Seelaus Asset Management LLC grew its holdings in Meta Platforms by 0.9% during the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after acquiring an additional 15 shares during the period. Meredith Wealth Planning boosted its position in shares of Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after purchasing an additional 15 shares in the last quarter. Maiden Cove Capital LLC grew its stake in shares of Meta Platforms by 3.2% during the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after purchasing an additional 15 shares during the period. Stephens Consulting LLC increased its holdings in shares of Meta Platforms by 5.3% in the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after purchasing an additional 16 shares in the last quarter. Finally, VeraBank N.A. lifted its stake in shares of Meta Platforms by 0.8% in the fourth quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock valued at $1,144,000 after purchasing an additional 16 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jennifer Newstead sold 921 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $627.05, for a total transaction of $577,513.05. Following the sale, the insider now directly owns 31,182 shares in the company, valued at approximately $19,552,673.10. This represents a 2.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $589.16, for a total value of $243,323.08. Following the completion of the sale, the chief operating officer now owns 17,514 shares in the company, valued at $10,318,548.24. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 584,823 shares of company stock valued at $386,274,777. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $576.74 on Friday. The firm has a market cap of $1.46 trillion, a PE ratio of 24.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The firm’s 50-day simple moving average is $655.23 and its 200-day simple moving average is $609.21. 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 previous year, the company earned $5.33 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms’s dividend payout ratio is 8.78%.

Analyst Upgrades and Downgrades

META has been the subject of a number of research analyst reports. Mizuho increased their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Robert W. Baird lifted their price objective on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Susquehanna upped their target price on Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Raymond James restated a “strong-buy” rating and set a $800.00 target price (up from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $718.31.

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.