CBIZ Investment Advisory Services LLC Buys 41 Shares of Meta Platforms, Inc. (NASDAQ:META)

CBIZ Investment Advisory Services LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 28.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 184 shares of the social networking company’s stock after purchasing an additional 41 shares during the period. CBIZ Investment Advisory Services LLC’s holdings in Meta Platforms were worth $108,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. JDM Financial Group LLC acquired a new position in Meta Platforms during the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $36,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms during the fourth quarter worth approximately $41,000. Cordant Inc. acquired a new position in Meta Platforms in the fourth quarter valued at approximately $59,000. Finally, Bear Mountain Capital Inc. bought a new position in Meta Platforms in the fourth quarter valued at approximately $70,000. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 8,553 shares of the business’s stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the sale, the chief financial officer now directly owns 51,793 shares in the company, valued at $38,154,349.31. The trade was a 14.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $607.50, for a total value of $369,360.00. Following the transaction, the chief operating officer now owns 7,446 shares in the company, valued at $4,523,445. The trade was a 7.55 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 632,023 shares of company stock worth $414,734,884. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 0.3 %

Shares of META stock opened at $584.06 on Thursday. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The stock has a market cap of $1.48 trillion, a price-to-earnings ratio of 24.42, a PEG ratio of 1.42 and a beta of 1.23. The firm’s 50-day moving average is $656.27 and its 200-day moving average is $604.69. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period in the previous year, the business earned $5.33 earnings per share. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a $0.525 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio is presently 8.78%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Raymond James reiterated a “strong-buy” rating and set a $800.00 target price (up previously from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Wedbush reissued an “outperform” rating and issued a $770.00 target price (up previously from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. BMO Capital Markets boosted their target price on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Cantor Fitzgerald upped their price target on Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Finally, Susquehanna lifted their price objective on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $718.31.

Meta Platforms Company 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.