Mirabella Financial Services LLP Acquires New Position in Meta Platforms, Inc. (NASDAQ:META)

Mirabella Financial Services LLP purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 20,366 shares of the social networking company’s stock, valued at approximately $11,918,000. Meta Platforms comprises approximately 1.1% of Mirabella Financial Services LLP’s portfolio, making the stock its 22nd biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $40,000. Avondale Wealth Management bought a new stake in Meta Platforms in the fourth quarter worth about $41,000. WealthTrak Capital Management LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $43,000. Cordant Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at about $59,000. Finally, Conquis Financial LLC acquired a new position in shares of Meta Platforms in the 4th quarter worth approximately $59,000. 79.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $618.00, for a total transaction of $255,234.00. Following the completion of the sale, the chief operating officer now directly owns 16,275 shares of the company’s stock, valued at $10,057,950. This trade represents a 2.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $626.80, for a total value of $22,515,282.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 379,901 shares of company stock worth $260,806,516. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of several recent research reports. Royal Bank of Canada lifted their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Benchmark raised Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price on the stock in a research report on Thursday, January 30th. Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. Wolfe Research boosted their price objective on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, BMO Capital Markets upped their price objective on shares of Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” 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 assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $684.10.

Meta Platforms Trading Down 0.2 %

Shares of Meta Platforms stock opened at $501.48 on Friday. The company’s fifty day moving average price is $608.14 and its two-hundred day moving average price is $607.04. The firm has a market capitalization of $1.27 trillion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the business earned $5.33 EPS. On average, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.42%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

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.