Alhambra Investment Management LLC Has $725,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Alhambra Investment Management LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,239 shares of the social networking company’s stock after acquiring an additional 160 shares during the quarter. Alhambra Investment Management LLC’s holdings in Meta Platforms were worth $725,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. International Assets Investment Management LLC increased its holdings in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after acquiring an additional 9,500,444 shares in the last quarter. Integrated Investment Consultants LLC increased its holdings in shares of Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after acquiring an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC increased its holdings in shares of Meta Platforms by 4,658.5% during the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after acquiring an additional 890,434 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after acquiring an additional 698,884 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Meta Platforms by 926.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after acquiring an additional 661,923 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $612.77 on Monday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average is $596.78 and its 200 day moving average is $557.04. The stock has a market cap of $1.55 trillion, a price-to-earnings ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a 1-year low of $370.95 and a 1-year high of $638.40.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping 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 return on equity of 35.60% and a net margin of 35.55%. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.68 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. Stockholders of record on Monday, December 16th were given a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $574.16, for a total value of $237,128.08. Following the completion of the sale, the chief operating officer now owns 10,707 shares in the company, valued at approximately $6,147,531.12. This represents a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 496,174 shares of company stock worth $301,408,499. 13.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

META has been the subject of several recent research reports. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a report on Thursday, October 24th. KeyCorp upped their price target on Meta Platforms from $655.00 to $700.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Piper Sandler upped their price target on Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Cantor Fitzgerald reiterated an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a report on Wednesday, October 16th. Finally, Wells Fargo & Company upped their price target on Meta Platforms from $641.00 to $685.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $650.05.

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.