Telligent Fund LP Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

Telligent Fund LP bought a new position in Meta Platforms, Inc. (NASDAQ:META) during the 4th quarter, Holdings Channel reports. The institutional investor bought 11,000 shares of the social networking company’s stock, valued at approximately $6,441,000. Meta Platforms accounts for approximately 6.1% of Telligent Fund LP’s investment portfolio, making the stock its 5th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms during the 4th quarter valued at $41,000. Cordant Inc. purchased a new stake in shares of Meta Platforms during the 4th quarter valued at $59,000. Finally, Reston Wealth Management LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at $61,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

META has been the topic of several research reports. Wells Fargo & Company raised their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Truist Financial increased their target price on shares of Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a report on Thursday, January 30th. KeyCorp increased their target price on shares of Meta Platforms from $700.00 to $750.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Benchmark raised shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price on the stock in a report on Thursday, January 30th. Finally, Wolfe Research increased their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $717.90.

Insider Transactions at Meta Platforms

In other news, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the transaction, the insider now owns 38,695 shares in the company, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Aaron Anderson sold 731 shares of the company’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 completion of the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at approximately $1,901,598. This represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 756,735 shares of company stock worth $475,285,232. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $719.80 on Wednesday. The stock has a market cap of $1.82 trillion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $725.01. The firm’s 50-day simple moving average is $631.85 and its two-hundred day simple moving average is $578.74.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm earned $5.33 EPS. Analysts anticipate that Meta Platforms, Inc. will post 26.66 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.28%. Meta Platforms’s dividend payout ratio is presently 8.36%.

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.