Meta Platforms, Inc. (NASDAQ:META) Shares Bought by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 254.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,119 shares of the social networking company’s stock after purchasing an additional 3,676 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Meta Platforms were worth $2,997,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Seelaus Asset Management LLC increased its stake in Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after buying an additional 15 shares during the period. Meredith Wealth Planning increased its stake in shares of Meta Platforms by 0.8% during the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after acquiring an additional 15 shares during the period. Maiden Cove Capital LLC raised its holdings in Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after purchasing an additional 15 shares in the last quarter. Stephens Consulting LLC lifted its position in Meta Platforms by 5.3% in the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after purchasing an additional 16 shares during the period. Finally, VeraBank N.A. boosted its holdings in Meta Platforms by 0.8% in the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock valued at $1,144,000 after purchasing an additional 16 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 1.4 %

META opened at $602.58 on Friday. The firm’s 50 day moving average is $655.95 and its 200-day moving average is $607.98. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.53 trillion, a P/E ratio of 25.19, a P/E/G ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter in the prior year, the business posted $5.33 EPS. Analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is 8.78%.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 55,589 shares of Meta Platforms stock in a transaction on Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 413 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $589.16, for a total transaction of $243,323.08. Following the transaction, the chief operating officer now owns 17,514 shares in the company, valued at $10,318,548.24. This trade represents a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 584,823 shares of company stock worth $386,274,777 in the last three months. 13.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on META shares. The Goldman Sachs Group lifted their price target on Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Mizuho upped their price target on shares of Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Arete Research upgraded shares of Meta Platforms to a “hold” rating in a research note on Friday, January 24th. Jefferies Financial Group upped their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Bank of America lifted their price target on shares of Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target 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.