Cordant Inc. Purchases New Shares in Meta Platforms, Inc. (NASDAQ:META)

Cordant Inc. purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 100 shares of the social networking company’s stock, valued at approximately $59,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after purchasing an additional 698,884 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Meta Platforms by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after acquiring an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after acquiring an additional 118,298 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock worth $4,101,602,000 after purchasing an additional 186,728 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 0.2 %

META stock opened at $612.77 on Friday. The firm has a market cap of $1.55 trillion, a price-to-earnings ratio of 28.86, a PEG ratio of 1.22 and a beta of 1.19. Meta Platforms, Inc. has a 1-year low of $370.95 and a 1-year high of $638.40. The firm has a fifty day moving average price of $596.78 and a two-hundred day moving average price of $556.39. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Research analysts predict that Meta Platforms, Inc. will post 22.68 EPS 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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $616.16, for a total transaction of $22,133,083.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total value of $520,103.50. Following the transaction, the insider now owns 32,387 shares of the company’s stock, valued at approximately $18,612,808.90. This represents a 2.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 496,174 shares of company stock worth $301,408,499 in the last 90 days. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on META. Robert W. Baird lifted their price objective on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. JMP Securities lifted their price target on Meta Platforms from $660.00 to $750.00 and gave the company a “market outperform” rating in a research note on Thursday, January 2nd. Roth Mkm upped their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Raymond James reiterated a “strong-buy” rating and set a $675.00 price target on shares of Meta Platforms in a report on Monday, November 25th. Finally, Wolfe Research raised their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Two investment 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 assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $650.05.

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.