Jaffetilchin Investment Partners LLC Buys 945 Shares of Meta Platforms, Inc. (NASDAQ:META)

Jaffetilchin Investment Partners LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 32,767 shares of the social networking company’s stock after purchasing an additional 945 shares during the period. Meta Platforms comprises approximately 1.4% of Jaffetilchin Investment Partners LLC’s holdings, making the stock its 18th largest position. Jaffetilchin Investment Partners LLC’s holdings in Meta Platforms were worth $19,185,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in META. Seelaus Asset Management LLC boosted its position in Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after buying an additional 15 shares during the period. Meredith Wealth Planning raised its stake in shares of Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after acquiring an additional 15 shares in the last quarter. Maiden Cove Capital LLC boosted its holdings in Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after purchasing an additional 15 shares during the period. Riverwater Partners LLC grew its stake in Meta Platforms by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock worth $335,000 after purchasing an additional 15 shares in the last quarter. Finally, Stephens Consulting LLC increased its holdings in Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after purchasing an additional 16 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Barclays lifted 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. Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a report on Tuesday, February 11th. Piper Sandler reduced their price objective on shares of Meta Platforms from $775.00 to $610.00 and set an “overweight” rating on the stock in a report on Thursday. Bank of America dropped their target price on Meta Platforms from $765.00 to $640.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Arete Research raised Meta Platforms to a “hold” rating in a report on Friday, January 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $704.62.

Meta Platforms Stock Performance

NASDAQ META opened at $546.29 on Friday. The stock has a market capitalization of $1.38 trillion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.42 and a beta of 1.28. The business’s 50 day moving average is $631.56 and its two-hundred day moving average is $609.28. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month 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 announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter last year, the firm earned $5.33 EPS. Research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $606.77, for a total value of $250,596.01. Following the completion of the transaction, the chief operating officer now directly owns 16,688 shares of the company’s stock, valued at approximately $10,125,777.76. This trade represents a 2.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders sold 487,453 shares of company stock worth $326,680,904 over the last 90 days. Company insiders own 13.71% of the company’s stock.

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.