Meta Platforms, Inc. (NASDAQ:META) is Congress Park Capital LLC’s 7th Largest Position

Congress Park Capital LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 17.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,709 shares of the social networking company’s stock after selling 3,169 shares during the period. Meta Platforms comprises 3.1% of Congress Park Capital LLC’s portfolio, making the stock its 7th largest holding. Congress Park Capital LLC’s holdings in Meta Platforms were worth $8,612,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after buying an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC grew its stake in Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares during the period. World Investment Advisors LLC grew its stake in Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after acquiring an additional 890,434 shares during the period. Geode Capital Management LLC raised its holdings in Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after acquiring an additional 698,884 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Meta Platforms by 926.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock worth $369,774,000 after purchasing an additional 661,923 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.2 %

NASDAQ:META opened at $612.77 on Friday. The firm has a market capitalization of $1.55 trillion, a P/E ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19. The business has a 50 day simple moving average of $596.78 and a 200 day simple moving average 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, Inc. has a 12-month low of $370.95 and a 12-month high of $638.40.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Equities research analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Transactions at Meta Platforms

In related news, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $2,918,698.12. Following the completion of the sale, the chief technology officer now directly owns 8,565 shares of the company’s stock, valued at $4,943,375.40. The trade was a 37.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 496,174 shares of company stock worth $301,408,499. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Stifel Nicolaus upped their target price on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Piper Sandler raised their target price on shares of Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Barclays upped their price target on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Wolfe Research increased their price target on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Scotiabank lowered their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $650.05.

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.