Norden Group LLC Buys 1,010 Shares of Meta Platforms, Inc. (NASDAQ:META)

Norden Group LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 28.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,514 shares of the social networking company’s stock after purchasing an additional 1,010 shares during the quarter. Norden Group LLC’s holdings in Meta Platforms were worth $1,598,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Penobscot Investment Management Company Inc. raised its stake in shares of Meta Platforms by 7.8% during the fourth quarter. Penobscot Investment Management Company Inc. now owns 5,400 shares of the social networking company’s stock valued at $1,911,000 after acquiring an additional 390 shares during the last quarter. Cozad Asset Management Inc. raised its position in Meta Platforms by 1.3% during the 4th quarter. Cozad Asset Management Inc. now owns 7,728 shares of the social networking company’s stock valued at $2,735,000 after purchasing an additional 101 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its holdings in Meta Platforms by 0.9% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 24,774 shares of the social networking company’s stock worth $8,769,000 after buying an additional 209 shares during the period. Field & Main Bank grew its position in shares of Meta Platforms by 2.2% in the 4th quarter. Field & Main Bank now owns 7,676 shares of the social networking company’s stock worth $2,717,000 after buying an additional 163 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its holdings in Meta Platforms by 19.6% in the fourth quarter. Kestra Private Wealth Services LLC now owns 71,075 shares of the social networking company’s stock valued at $25,158,000 after acquiring an additional 11,640 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.1 %

NASDAQ:META traded up $0.22 during mid-day trading on Tuesday, reaching $432.84. The company’s stock had a trading volume of 11,590,295 shares, compared to its average volume of 18,342,746. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.10 trillion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 1.15 and a beta of 1.20. The stock has a fifty day moving average of $493.66 and a 200-day moving average of $406.15. Meta Platforms, Inc. has a 1 year low of $229.85 and a 1 year high of $531.49.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Equities research analysts forecast that Meta Platforms, Inc. will post 20.2 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were issued a $0.50 dividend. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.46%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wolfe Research decreased their target price on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Tigress Financial boosted their price target on Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 9th. Robert W. Baird decreased their target price on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, April 25th. Finally, Raymond James decreased their target price on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $509.18.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total transaction of $287,381.25. Following the sale, the insider now owns 37,228 shares of the company’s stock, valued at $18,288,255. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total value of $287,381.25. Following the completion of the sale, the insider now directly owns 37,228 shares in the company, valued at $18,288,255. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 19,681 shares of the company’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total value of $7,751,361.85. The disclosure for this sale can be found here. In the last three months, insiders sold 1,276,482 shares of company stock valued at $620,451,095. Corporate insiders own 13.71% of the company’s stock.

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.