Magnolia Capital Advisors LLC Acquires 1,277 Shares of Meta Platforms, Inc. (NASDAQ:META)

Magnolia Capital Advisors LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 41.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,380 shares of the social networking company’s stock after acquiring an additional 1,277 shares during the period. Meta Platforms accounts for about 1.1% of Magnolia Capital Advisors LLC’s portfolio, making the stock its 25th biggest holding. Magnolia Capital Advisors LLC’s holdings in Meta Platforms were worth $1,550,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in META. Vanguard Group Inc. lifted its position in shares of Meta Platforms by 1.0% in the third quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock worth $55,011,920,000 after buying an additional 1,733,182 shares in the last quarter. FMR LLC raised its position in Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after purchasing an additional 5,001,647 shares during the period. Morgan Stanley raised its position in Meta Platforms by 3.4% during the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after purchasing an additional 1,184,978 shares during the period. Northern Trust Corp raised its position in Meta Platforms by 4.3% during the third quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock valued at $6,906,009,000 after purchasing an additional 946,871 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,143,462 shares of the social networking company’s stock valued at $3,945,799,000 after purchasing an additional 111,735 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $393.85, for a total transaction of $7,751,361.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $501.18, for a total transaction of $245,578.20. Following the completion of the transaction, the chief operating officer now owns 7,089 shares in the company, valued at approximately $3,552,865.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 19,681 shares of Meta Platforms stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $393.85, for a total value of $7,751,361.85. The disclosure for this sale can be found here. Insiders sold 1,368,244 shares of company stock worth $657,034,449 in the last 90 days. Insiders own 14.03% of the company’s stock.

Meta Platforms Stock Performance

META stock traded down $2.60 during midday trading on Wednesday, reaching $493.50. The stock had a trading volume of 36,273,029 shares, compared to its average volume of 17,341,254. The stock has a market cap of $1.26 trillion, a PE ratio of 33.12, a P/E/G ratio of 1.23 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The firm has a fifty day simple moving average of $495.93 and a two-hundred day simple moving average of $403.14. Meta Platforms, Inc. has a 52-week low of $207.13 and a 52-week high of $531.49.

Meta Platforms (NASDAQ:META) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.82 by $0.51. The company had revenue of $40.11 billion during the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter last year, the business posted $3.00 EPS. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 20.18 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.41%. Meta Platforms’s dividend payout ratio (DPR) is 13.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Meta Platforms from $450.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Wedbush upped their price objective on Meta Platforms from $420.00 to $520.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Evercore ISI upped their price objective on Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. TD Cowen increased their price target on Meta Platforms from $415.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, Sanford C. Bernstein increased their price target on Meta Platforms from $535.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $520.28.

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.