Resonant Capital Advisors LLC Acquires 2,857 Shares of Meta Platforms, Inc. (NASDAQ:META)

Resonant Capital Advisors LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 97.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,775 shares of the social networking company’s stock after acquiring an additional 2,857 shares during the period. Resonant Capital Advisors LLC’s holdings in Meta Platforms were worth $2,044,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Schear Investment Advisers LLC lifted its position in shares of Meta Platforms by 1.2% during the 4th quarter. Schear Investment Advisers LLC now owns 4,244 shares of the social networking company’s stock worth $1,502,000 after buying an additional 49 shares during the period. Zhang Financial LLC lifted its holdings in shares of Meta Platforms by 12.8% during the fourth quarter. Zhang Financial LLC now owns 7,068 shares of the social networking company’s stock valued at $2,502,000 after acquiring an additional 804 shares during the period. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Meta Platforms by 2.7% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 60,815 shares of the social networking company’s stock valued at $21,526,000 after acquiring an additional 1,607 shares during the period. Cornerstone Investment Partners LLC boosted its stake in shares of Meta Platforms by 8.4% in the 4th quarter. Cornerstone Investment Partners LLC now owns 199,357 shares of the social networking company’s stock valued at $70,564,000 after purchasing an additional 15,492 shares in the last quarter. Finally, Davidson Trust Co. bought a new stake in shares of Meta Platforms in the 4th quarter worth about $262,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $392.36, for a total value of $7,722,037.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $392.36, for a total transaction of $7,722,037.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $498.59, for a total value of $291,675.15. Following the completion of the transaction, the insider now directly owns 37,813 shares in the company, valued at approximately $18,853,183.67. The disclosure for this sale can be found here. Insiders sold a total of 1,421,182 shares of company stock valued at $677,574,550 in the last quarter. Company insiders own 13.75% of the company’s stock.

Meta Platforms Stock Down 4.4 %

Shares of NASDAQ:META traded down $22.25 during midday trading on Friday, reaching $479.55. The company had a trading volume of 19,833,345 shares, compared to its average volume of 17,077,623. The business’s 50 day moving average price is $494.29 and its 200 day moving average price is $397.43. Meta Platforms, Inc. has a 1-year low of $207.13 and a 1-year high of $531.49. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.22 trillion, a PE ratio of 32.93, a P/E/G ratio of 1.26 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The company had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. During the same quarter in the prior year, the business posted $3.00 EPS. The business’s revenue was up 24.7% compared to the same quarter last year. Research analysts forecast that Meta Platforms, Inc. will post 20.18 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 13.42%.

Analyst Ratings Changes

META has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Meta Platforms from $420.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Robert W. Baird raised their target price on Meta Platforms from $385.00 to $525.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Roth Mkm reiterated a “buy” rating and set a $500.00 price target on shares of Meta Platforms in a research report on Monday, March 18th. Guggenheim raised their price objective on shares of Meta Platforms from $380.00 to $520.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, The Goldman Sachs Group upped their target price on shares of Meta Platforms from $500.00 to $555.00 and gave the stock a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $519.53.

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.