Raab & Moskowitz Asset Management LLC Purchases New Position in Meta Platforms, Inc. (NASDAQ:META)

Raab & Moskowitz Asset Management LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, HoldingsChannel reports. The firm purchased 890 shares of the social networking company’s stock, valued at approximately $315,000.

Other large investors have also made changes to their positions in the company. Stone House Investment Management LLC boosted its position in Meta Platforms by 625.0% during the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares during the period. Beaird Harris Wealth Management LLC boosted its position in Meta Platforms by 68.9% during the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock worth $31,000 after purchasing an additional 42 shares during the period. PayPay Securities Corp boosted its position in Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after purchasing an additional 43 shares during the period. Cranbrook Wealth Management LLC boosted its position in Meta Platforms by 80.4% during the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock worth $36,000 after purchasing an additional 45 shares during the period. Finally, Gilfoyle & Co LLC bought a new stake in Meta Platforms during the fourth quarter worth approximately $39,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on META shares. Citigroup reduced their price objective on Meta Platforms from $590.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday. Piper Sandler reiterated an “overweight” rating and set a $545.00 price objective (down from $600.00) on shares of Meta Platforms in a research note on Thursday. Canaccord Genuity Group decreased their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday. Rosenblatt Securities increased their target price on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Robert W. Baird decreased their target price on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $509.18.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total transaction of $287,381.25. Following the transaction, the insider now owns 37,228 shares of the company’s stock, valued at approximately $18,288,255. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total transaction of $287,381.25. Following the completion of the transaction, the insider now directly owns 37,228 shares in the company, valued at approximately $18,288,255. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $488.03, for a total value of $239,134.70. Following the transaction, the chief operating officer now owns 79,944 shares of the company’s stock, valued at $39,015,070.32. The disclosure for this sale can be found here. Insiders have sold 1,349,148 shares of company stock valued at $649,552,559 in the last 90 days. 13.75% of the stock is currently owned by insiders.

Meta Platforms Stock Up 0.4 %

Meta Platforms stock traded up $1.91 during midday trading on Friday, reaching $443.29. The stock had a trading volume of 32,645,619 shares, compared to its average volume of 18,233,678. The firm’s fifty day simple moving average is $494.48 and its 200-day simple moving average is $404.27. Meta Platforms, Inc. has a 1-year low of $229.85 and a 1-year high of $531.49. The stock has a market capitalization of $1.13 trillion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.68.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. As a group, analysts expect that Meta Platforms, Inc. will post 20.33 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared 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. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.