Thurston Springer Miller Herd & Titak Inc. Increases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Thurston Springer Miller Herd & Titak Inc. boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 241.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,640 shares of the social networking company’s stock after buying an additional 5,404 shares during the quarter. Meta Platforms makes up 0.9% of Thurston Springer Miller Herd & Titak Inc.’s investment portfolio, making the stock its 13th largest holding. Thurston Springer Miller Herd & Titak Inc.’s holdings in Meta Platforms were worth $4,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of META. Fiera Capital Corp boosted its holdings in Meta Platforms by 35.1% during the second quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock worth $13,751,000 after purchasing an additional 7,089 shares during the last quarter. Prosperity Consulting Group LLC boosted its stake in shares of Meta Platforms by 2.3% in the 2nd quarter. Prosperity Consulting Group LLC now owns 6,510 shares of the social networking company’s stock worth $3,283,000 after buying an additional 146 shares during the last quarter. SilverOak Wealth Management LLC increased its position in shares of Meta Platforms by 1.7% during the second quarter. SilverOak Wealth Management LLC now owns 5,086 shares of the social networking company’s stock valued at $2,565,000 after acquiring an additional 86 shares during the last quarter. Lyell Wealth Management LP lifted its holdings in Meta Platforms by 8.4% during the second quarter. Lyell Wealth Management LP now owns 48,480 shares of the social networking company’s stock worth $24,445,000 after acquiring an additional 3,756 shares during the period. Finally, Williams Financial LLC purchased a new position in Meta Platforms in the second quarter worth $6,650,000. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Pivotal Research lifted their target price on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Guggenheim raised their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a research note on Wednesday, October 16th. Finally, Jefferies Financial Group raised their target price on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $650.05.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $607.97, for a total transaction of $21,838,890.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 18,644 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.55, for a total transaction of $10,320,386.20. Following the completion of the transaction, the chief financial officer now owns 46,769 shares in the company, valued at $25,888,979.95. The trade was a 28.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 495,682 shares of company stock valued at $301,101,199. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $617.12 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a 52-week low of $358.61 and a 52-week high of $638.40. The company has a fifty day moving average of $595.02 and a 200-day moving average of $554.81. The stock has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 29.07, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Equities research analysts expect that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.32%. Meta Platforms’s payout ratio is currently 9.42%.

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.