Ceeto Capital Group LLC Purchases 250 Shares of Meta Platforms, Inc. (NASDAQ:META)

Ceeto Capital Group LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,661 shares of the social networking company’s stock after acquiring an additional 250 shares during the period. Meta Platforms comprises about 1.7% of Ceeto Capital Group LLC’s investment portfolio, making the stock its 8th largest holding. Ceeto Capital Group LLC’s holdings in Meta Platforms were worth $4,486,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $677.71, for a total value of $13,554,200.00. Following the completion of the sale, the insider now owns 308,686 shares in the company, valued at $209,199,589.06. The trade was a 6.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $543.39, for a total transaction of $500,462.19. Following the completion of the sale, the insider now directly owns 29,340 shares of the company’s stock, valued at $15,943,062.60. This trade represents a 3.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 487,453 shares of company stock valued at $326,680,904. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $543.57 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The firm has a market cap of $1.38 trillion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 1.42 and a beta of 1.28. The firm’s 50-day simple moving average is $628.35 and its two-hundred day simple moving average is $609.11. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned $5.33 EPS. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is presently 8.78%.

Analyst Ratings Changes

A number of research firms have issued reports on META. Mizuho boosted their price objective on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $790.00 target price on shares of Meta Platforms in a research note on Wednesday, April 2nd. KeyCorp dropped their price target on Meta Platforms from $710.00 to $645.00 and set an “overweight” rating for the company in a research note on Wednesday. Barclays lifted their target price on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group upped their price target on Meta Platforms from $688.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Two 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $701.38.

Meta Platforms Company 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.