Pallas Capital Advisors LLC Purchases 460 Shares of Meta Platforms, Inc. (NASDAQ:META)

Pallas Capital Advisors LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,984 shares of the social networking company’s stock after purchasing an additional 460 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Meta Platforms were worth $11,701,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its stake in shares of Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after acquiring an additional 118,298 shares in the last quarter. LS Investment Advisors LLC grew its holdings in Meta Platforms by 111.4% in the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after purchasing an additional 6,155 shares during the period. Cutter & CO Brokerage Inc. increased its stake in Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after purchasing an additional 65 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Meta Platforms by 1.4% during the third quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock valued at $235,872,000 after purchasing an additional 5,594 shares during the period. Finally, M&G PLC boosted its position in shares of Meta Platforms by 14.6% during the 3rd quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock worth $412,606,000 after purchasing an additional 91,773 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on META shares. Guggenheim upped their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Roth Mkm increased their target price on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. UBS Group boosted their price target on shares of Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Two equities 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $650.05.

Meta Platforms Stock Performance

NASDAQ META opened at $608.33 on Tuesday. The firm has a market cap of $1.54 trillion, a P/E ratio of 28.65, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $594.58 and its 200-day moving average is $554.18. Meta Platforms, Inc. has a 12-month low of $358.61 and a 12-month high of $638.40.

Meta Platforms (NASDAQ:META) last issued its earnings results 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. The business had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts predict that Meta Platforms, Inc. will post 22.68 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid 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 0.33%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total value of $520,103.50. Following the transaction, the insider now directly owns 32,387 shares in the company, valued at $18,612,808.90. This represents a 2.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total value of $22,746,973.25. The disclosure for this sale can be found here. Insiders sold 423,427 shares of company stock valued at $256,996,450 in the last quarter. 13.71% of the stock is currently owned by corporate insiders.

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.