Foundations Investment Advisors LLC Has $33.30 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Foundations Investment Advisors LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 11.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 56,875 shares of the social networking company’s stock after purchasing an additional 5,625 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Meta Platforms were worth $33,301,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. JDM Financial Group LLC acquired a new position in Meta Platforms during the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new position in shares of Meta Platforms in the third quarter worth about $36,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $41,000. Halpern Financial Inc. bought a new position in Meta Platforms in the 3rd quarter valued at $46,000. Finally, West Financial Advisors LLC bought a new position in Meta Platforms in the third quarter valued at about $49,000. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on META. Raymond James restated a “strong-buy” rating and set a $800.00 target price (up from $725.00) on shares of Meta Platforms in a research report on Thursday. Barclays lifted their target price on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a report on Thursday. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Monday. Stifel Nicolaus upped their price objective on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, TD Cowen raised their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $706.76.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the completion of the sale, the insider now directly owns 30,581 shares in the company, valued at $17,360,833.70. This trade represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 661,804 shares of company stock valued at $407,745,741 in the last quarter. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $687.00 on Friday. The stock has a market cap of $1.73 trillion, a P/E ratio of 32.36, a P/E/G ratio of 1.18 and a beta of 1.19. The company has a fifty day moving average price of $611.00 and a two-hundred day moving average price of $564.44. Meta Platforms, Inc. has a one year low of $387.10 and a one year high of $710.79. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. During the same quarter in the previous year, the company earned $5.33 earnings per share. As a group, equities analysts predict that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.