Sage Mountain Advisors LLC Has $3.02 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Sage Mountain Advisors LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,543 shares of the social networking company’s stock after purchasing an additional 272 shares during the period. Sage Mountain Advisors LLC’s holdings in Meta Platforms were worth $3,024,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of META. Stone House Investment Management LLC grew its holdings in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after acquiring an additional 75 shares during the period. Beaird Harris Wealth Management LLC grew its holdings in Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after acquiring an additional 42 shares during the period. PayPay Securities Corp grew its holdings in Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after acquiring an additional 43 shares during the period. Cranbrook Wealth Management LLC grew its holdings in Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after acquiring an additional 45 shares during the period. Finally, Gilfoyle & Co LLC acquired a new stake in Meta Platforms during the 4th quarter worth $39,000. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the subject of several research analyst reports. Morgan Stanley boosted their price target on shares of Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Oppenheimer boosted their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the company an “outperform” rating in a report on Monday, April 8th. Monness Crespi & Hardt boosted their price target on shares of Meta Platforms from $370.00 to $540.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Jefferies Financial Group upped their target price on shares of Meta Platforms from $550.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $420.00 to $535.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $520.28.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded up $4.30 on Monday, reaching $485.37. 13,167,149 shares of the company’s stock were exchanged, compared to its average volume of 17,101,277. The company has a fifty day moving average of $494.55 and a 200-day moving average of $399.98. Meta Platforms, Inc. has a twelve month low of $207.13 and a twelve month high of $531.49. The company has a market capitalization of $1.24 trillion, a price-to-earnings ratio of 32.24, a PEG ratio of 1.22 and a beta of 1.20. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its earnings results 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 net margin of 28.98% and a return on equity of 29.48%. The firm had revenue of $40.11 billion for the quarter, compared to analyst estimates 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. On average, research analysts predict that Meta Platforms, Inc. will post 20.18 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.41%. Meta Platforms’s payout ratio is presently 13.42%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $385.00, for a total transaction of $217,910.00. Following the transaction, the insider now owns 35,286 shares in the company, valued at approximately $13,585,110. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Susan J. Li sold 10,956 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the sale, the chief financial officer now owns 76,398 shares in the company, valued at approximately $36,157,645.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 566 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $385.00, for a total transaction of $217,910.00. Following the sale, the insider now owns 35,286 shares in the company, valued at approximately $13,585,110. The disclosure for this sale can be found here. Insiders have sold a total of 1,392,501 shares of company stock worth $666,506,318 in the last quarter. Corporate insiders own 14.03% of the company’s stock.

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.