2,394 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Coign Capital Advisors LLC

Coign Capital Advisors LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,394 shares of the social networking company’s stock, valued at approximately $1,402,000. Meta Platforms comprises about 1.3% of Coign Capital Advisors LLC’s investment portfolio, making the stock its 19th biggest position.

A number of other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $19,949,512,000. Proficio Capital Partners LLC lifted its stake in Meta Platforms by 78,471.1% in the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock valued at $3,658,713,000 after buying an additional 6,240,810 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Meta Platforms during the 4th quarter valued at $2,243,603,000. Arrowstreet Capital Limited Partnership increased its position in Meta Platforms by 27.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock worth $5,211,967,000 after buying an additional 1,892,509 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays increased their price objective on Meta Platforms from $630.00 to $705.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Monday, January 27th. Bank of America reduced their price objective on shares of Meta Platforms from $765.00 to $640.00 and set a “buy” rating on the stock in a research note on Wednesday. Mizuho lifted their target price 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. Finally, Scotiabank boosted their price target on Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a report on Thursday, January 30th. Two equities research 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $704.62.

Insider Activity

In other news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $616.16, for a total value of $22,133,083.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 4,706 shares of the firm’s stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,466,769.02. Following the transaction, the chief operating officer now owns 20,935 shares in the company, valued at $15,422,186.45. This trade represents a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 487,453 shares of company stock worth $326,680,904. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Down 6.7 %

NASDAQ META opened at $546.29 on Friday. The company’s fifty day simple moving average is $631.56 and its 200-day simple moving average is $609.28. The stock has a market cap of $1.38 trillion, a P/E ratio of 22.84, a PEG ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company posted $5.33 earnings per share. Equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.38%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms’s dividend payout ratio is presently 8.78%.

Meta Platforms 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.