ACT Advisors LLC. Grows Position in Meta Platforms, Inc. (NASDAQ:META)

ACT Advisors LLC. increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 861 shares of the social networking company’s stock after acquiring an additional 68 shares during the period. ACT Advisors LLC.’s holdings in Meta Platforms were worth $305,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Flputnam Investment Management Co. raised its position in shares of Meta Platforms by 105.8% during the 4th quarter. Flputnam Investment Management Co. now owns 18,682 shares of the social networking company’s stock worth $6,613,000 after acquiring an additional 9,603 shares in the last quarter. Capital Analysts LLC grew its stake in Meta Platforms by 1.3% during the 4th quarter. Capital Analysts LLC now owns 2,886 shares of the social networking company’s stock worth $1,021,000 after buying an additional 38 shares during the last quarter. Private Client Services LLC purchased a new position in Meta Platforms during the 4th quarter worth approximately $322,000. Keel Point LLC grew its stake in Meta Platforms by 20.5% during the 4th quarter. Keel Point LLC now owns 8,062 shares of the social networking company’s stock worth $2,854,000 after buying an additional 1,372 shares during the last quarter. Finally, Bourgeon Capital Management LLC grew its stake in Meta Platforms by 3,000.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 248 shares of the social networking company’s stock worth $88,000 after buying an additional 240 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the topic of a number of research reports. Roth Mkm restated a “buy” rating and set a $500.00 price target on shares of Meta Platforms in a research note on Monday, March 18th. UBS Group lifted their price target on Meta Platforms from $530.00 to $610.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus lifted their price objective on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday. Citigroup boosted their target price on Meta Platforms from $525.00 to $590.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Piper Sandler boosted their target price on Meta Platforms from $525.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $509.28.

Meta Platforms Stock Performance

Shares of NASDAQ META traded up $1.06 during mid-day trading on Tuesday, hitting $501.29. The company had a trading volume of 3,042,017 shares, compared to its average volume of 17,052,457. Meta Platforms, Inc. has a 12 month low of $207.13 and a 12 month high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 33.64, a PEG ratio of 1.31 and a beta of 1.20. The firm’s 50 day simple moving average is $492.26 and its two-hundred day simple moving average is $394.61.

Meta Platforms (NASDAQ:META) last posted its earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating the consensus estimate of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm had revenue of $40.11 billion for the quarter, compared to analysts’ expectations of $39.12 billion. During the same period last year, the firm earned $3.00 EPS. The firm’s revenue was up 24.7% compared to the same quarter last year. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 20.06 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 13.42%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $364.99, for a total transaction of $7,183,368.19. The sale was disclosed in a legal filing with the SEC, 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 on Wednesday, January 17th. The stock was sold at an average price of $364.99, for a total value of $7,183,368.19. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 8,036 shares of Meta Platforms stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $3,803,278.08. Following the completion of the transaction, the chief technology officer now owns 18,432 shares in the company, valued at $8,723,496.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,459,469 shares of company stock worth $691,726,161. 14.03% of the stock is owned by company insiders.

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.