Raleigh Capital Management Inc. Acquires 157 Shares of Meta Platforms, Inc. (NASDAQ:META)

Raleigh Capital Management Inc. lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,905 shares of the social networking company’s stock after buying an additional 157 shares during the period. Meta Platforms comprises 0.9% of Raleigh Capital Management Inc.’s holdings, making the stock its 21st largest position. Raleigh Capital Management Inc.’s holdings in Meta Platforms were worth $2,287,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of META. Echo45 Advisors LLC raised its holdings in shares of Meta Platforms by 6.4% in the 4th quarter. Echo45 Advisors LLC now owns 1,413 shares of the social networking company’s stock valued at $854,000 after purchasing an additional 85 shares during the period. Olistico Wealth LLC grew its position in shares of Meta Platforms by 15.3% in the fourth quarter. Olistico Wealth LLC now owns 1,930 shares of the social networking company’s stock valued at $1,130,000 after purchasing an additional 256 shares during the last quarter. True North Advisors LLC lifted its holdings in shares of Meta Platforms by 8.9% during the fourth quarter. True North Advisors LLC now owns 2,329 shares of the social networking company’s stock worth $1,364,000 after buying an additional 190 shares in the last quarter. Independent Wealth Network Inc. raised its stake in Meta Platforms by 4.3% in the 4th quarter. Independent Wealth Network Inc. now owns 3,208 shares of the social networking company’s stock worth $1,878,000 after purchasing an additional 131 shares in the last quarter. Finally, Hudson Capital Management LLC grew its position in shares of Meta Platforms by 7.0% during the 4th quarter. Hudson Capital Management LLC now owns 426 shares of the social networking company’s stock worth $250,000 after purchasing an additional 28 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $567.58, for a total value of $234,410.54. Following the transaction, the chief operating officer now directly owns 10,294 shares in the company, valued at $5,842,668.52. This represents a 3.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the sale, the chief financial officer now owns 51,591 shares of the company’s stock, valued at approximately $29,776,261.56. This trade represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 568,016 shares of company stock worth $346,031,180. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on META shares. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, October 31st. Wolfe Research lifted their price target on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Truist Financial lifted their price target on shares of Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Mizuho upped their target price on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, Morgan Stanley upped their price objective on shares of Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, four have given 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.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $654.20.

Meta Platforms Stock Performance

Shares of META opened at $647.49 on Friday. Meta Platforms, Inc. has a 52-week low of $385.66 and a 52-week high of $652.00. The stock’s 50-day simple moving average is $601.93 and its 200 day simple moving average is $560.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Research analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.31%. Meta Platforms’s payout ratio is currently 9.42%.

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.