Bay Rivers Group Has $5.82 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Bay Rivers Group cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,945 shares of the social networking company’s stock after selling 331 shares during the period. Meta Platforms makes up 2.8% of Bay Rivers Group’s holdings, making the stock its 10th largest position. Bay Rivers Group’s holdings in Meta Platforms were worth $5,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Lindenwold Advisors INC lifted its position in Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock worth $3,388,000 after buying an additional 17 shares during the last quarter. Insight Wealth Strategies LLC lifted its holdings in shares of Meta Platforms by 1.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock worth $625,000 after acquiring an additional 17 shares during the last quarter. Steigerwald Gordon & Koch Inc. boosted its stake in shares of Meta Platforms by 0.6% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock worth $1,569,000 after purchasing an additional 17 shares during the period. Central Valley Advisors LLC raised its position in Meta Platforms by 0.3% in the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after purchasing an additional 18 shares during the period. Finally, Cherrydale Wealth Management LLC lifted its stake in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after purchasing an additional 18 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $689.18 on Friday. The stock has a market cap of $1.74 trillion, a price-to-earnings ratio of 28.81, a PEG ratio of 1.35 and a beta of 1.19. Meta Platforms, Inc. has a 12 month low of $387.10 and a 12 month high of $710.79. The company has a 50 day simple moving average of $613.60 and a two-hundred day simple moving average of $565.78. 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 (NASDAQ:META) last posted its quarterly earnings results 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 39.74%. During the same period last year, the business earned $5.33 EPS. As a group, analysts predict that Meta Platforms, Inc. will post 25.44 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Pivotal Research increased their price target on Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a report on Thursday. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Jefferies Financial Group boosted their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group raised their price target on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Roth Mkm boosted their price objective on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $706.76.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the sale, the insider now directly owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. This represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $673.57, for a total transaction of $24,195,307.97. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 661,804 shares of company stock valued at $407,745,741. 13.71% of the stock is owned by company 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.