Eaton Cambridge Inc. Acquires 60 Shares of Meta Platforms, Inc. (NASDAQ:META)

Eaton Cambridge Inc. boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 710 shares of the social networking company’s stock after acquiring an additional 60 shares during the quarter. Meta Platforms accounts for 0.2% of Eaton Cambridge Inc.’s portfolio, making the stock its 21st biggest holding. Eaton Cambridge Inc.’s holdings in Meta Platforms were worth $416,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. JDH Wealth Management LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $304,000. Integrity Wealth Solutions LLC lifted its holdings in shares of Meta Platforms by 37.5% in the 4th quarter. Integrity Wealth Solutions LLC now owns 1,272 shares of the social networking company’s stock worth $745,000 after buying an additional 347 shares during the period. Nilsine Partners LLC grew its position in shares of Meta Platforms by 3.0% during the 4th quarter. Nilsine Partners LLC now owns 9,246 shares of the social networking company’s stock worth $5,414,000 after buying an additional 272 shares in the last quarter. Berkshire Bank increased its stake in shares of Meta Platforms by 12.9% during the fourth quarter. Berkshire Bank now owns 2,789 shares of the social networking company’s stock valued at $1,633,000 after buying an additional 318 shares during the period. Finally, Lebenthal Global Advisors LLC raised its holdings in shares of Meta Platforms by 3.1% in the fourth quarter. Lebenthal Global Advisors LLC now owns 7,590 shares of the social networking company’s stock valued at $4,444,000 after acquiring an additional 230 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Pivotal Research raised their target price on shares of Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research report on Thursday. Raymond James reissued a “strong-buy” rating and set a $800.00 price objective (up from $725.00) on shares of Meta Platforms in a report on Thursday. Truist Financial upped their target price on Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group boosted their price target on Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Morgan Stanley lifted their target price on Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $706.76.

Meta Platforms Stock Performance

Shares of META stock opened at $689.18 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12-month low of $387.10 and a 12-month high of $710.79. The business’s 50 day moving average is $613.60 and its two-hundred day moving average is $565.78. The company has a market capitalization of $1.74 trillion, a P/E ratio of 28.81, a P/E/G 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 (EPS) 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 39.74%. During the same period in the previous year, the company posted $5.33 EPS. Analysts expect that Meta Platforms, Inc. will post 25.44 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is presently 8.36%.

Insider Activity at Meta Platforms

In other news, insider Nicholas Clegg sold 1,131 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $652,767.96. Following the completion of the sale, the insider now owns 1,229 shares of the company’s stock, valued at $709,329.64. This represents a 47.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $567.70, for a total transaction of $511,497.70. Following the completion of the transaction, the insider now directly owns 30,581 shares in the company, valued at approximately $17,360,833.70. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 661,804 shares of company stock valued at $407,745,741. 13.71% of the stock is owned by corporate insiders.

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.