Eaton Cambridge Inc. Raises Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Eaton Cambridge Inc. raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 710 shares of the social networking company’s stock after buying an additional 60 shares during the quarter. Meta Platforms comprises approximately 0.2% of Eaton Cambridge Inc.’s portfolio, making the stock its 21st biggest position. Eaton Cambridge Inc.’s holdings in Meta Platforms were worth $416,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. JDM Financial Group LLC bought a new stake in Meta Platforms in the third quarter worth $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms in the 3rd quarter worth about $36,000. Avondale Wealth Management purchased a new stake in Meta Platforms during the 4th quarter valued at about $41,000. Halpern Financial Inc. bought a new stake in Meta Platforms during the 3rd quarter valued at about $46,000. Finally, West Financial Advisors LLC purchased a new position in Meta Platforms in the third quarter worth about $49,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on META. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Sanford C. Bernstein boosted their price target on Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Morgan Stanley increased their price objective on Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. DA Davidson boosted their target price on Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $706.76.

Meta Platforms Trading Up 0.3 %

Shares of Meta Platforms stock opened at $689.18 on Friday. Meta Platforms, Inc. has a twelve month low of $387.10 and a twelve month high of $710.79. 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 business has a 50-day moving average price of $613.60 and a 200-day moving average price of $565.78. The firm has a market cap of $1.74 trillion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.35 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a return on equity of 39.74% and a net margin of 37.91%. During the same quarter in the previous year, the firm posted $5.33 earnings per share. Equities research analysts anticipate that Meta Platforms, Inc. will post 25.44 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.29%. Meta Platforms’s dividend payout ratio (DPR) is currently 8.36%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $666.00, for a total value of $602,730.00. Following the completion of the transaction, the insider now owns 29,295 shares in the company, valued at approximately $19,510,470. The trade was a 3.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The shares were 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 in the company, valued at $1,901,598. The trade was 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 three months. Corporate insiders own 13.71% of the company’s stock.

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.