Mogy Joel R Investment Counsel Inc. Raises Position in Meta Platforms, Inc. (NASDAQ:META)

Mogy Joel R Investment Counsel Inc. lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 96,479 shares of the social networking company’s stock after purchasing an additional 140 shares during the quarter. Meta Platforms comprises 3.4% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 11th biggest holding. Mogy Joel R Investment Counsel Inc.’s holdings in Meta Platforms were worth $56,489,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. JDM Financial Group LLC purchased a new position in shares of Meta Platforms during the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $36,000. Avondale Wealth Management purchased a new position in Meta Platforms during the 4th quarter valued at $41,000. Halpern Financial Inc. bought a new position in Meta Platforms in the 3rd quarter valued at $46,000. Finally, West Financial Advisors LLC purchased a new stake in Meta Platforms in the third quarter worth $49,000. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on META shares. Stifel Nicolaus upped their price target on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Guggenheim upped their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Robert W. Baird lifted their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. JMP Securities increased their price objective on Meta Platforms from $660.00 to $750.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 2nd. Finally, Roth Mkm lifted their target price on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $654.20.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $618.00, for a total transaction of $559,290.00. Following the sale, the insider now directly owns 30,200 shares of the company’s stock, valued at approximately $18,663,600. This represents a 2.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the completion of the transaction, the insider now owns 38,695 shares of the company’s stock, valued at approximately $21,416,908.60. This trade represents a 15.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 568,016 shares of company stock valued at $346,031,180 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $636.45 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 twelve month low of $385.66 and a twelve month high of $638.40. The company’s 50 day moving average is $600.06 and its 200 day moving average is $559.30. The company has a market cap of $1.61 trillion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

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.