Mogy Joel R Investment Counsel Inc. Buys 351 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mogy Joel R Investment Counsel Inc. grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.4% in the 4th quarter, Holdings Channel reports. The firm owned 95,503 shares of the social networking company’s stock after purchasing an additional 351 shares during the period. Meta Platforms makes up about 2.6% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 16th biggest position. Mogy Joel R Investment Counsel Inc.’s holdings in Meta Platforms were worth $33,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Addison Advisors LLC grew its position in shares of Meta Platforms by 3.9% in the 4th quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock worth $237,000 after buying an additional 25 shares during the period. WoodTrust Financial Corp grew its position in shares of Meta Platforms by 1.8% in the 4th quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock worth $548,000 after buying an additional 27 shares during the period. Tennessee Valley Asset Management Partners grew its position in shares of Meta Platforms by 0.6% in the 4th quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock worth $1,616,000 after buying an additional 27 shares during the period. Peterson Wealth Advisors LLC grew its position in shares of Meta Platforms by 1.9% in the 4th quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock worth $520,000 after buying an additional 28 shares during the period. Finally, Edge Wealth Management LLC grew its position in shares of Meta Platforms by 4.0% in the 4th quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock worth $258,000 after buying an additional 28 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on META shares. Raymond James cut their price objective on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a research report on Thursday. Jefferies Financial Group cut their price objective on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research report on Thursday. JMP Securities reissued a “market outperform” rating and set a $550.00 price objective on shares of Meta Platforms in a research report on Monday, April 22nd. Rosenblatt Securities increased their price objective on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Robert W. Baird cut their price objective on shares of Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $509.18.

Meta Platforms Price Performance

META traded up $1.91 during trading on Friday, reaching $443.29. 32,645,619 shares of the company traded hands, compared to its average volume of 18,233,678. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.68. Meta Platforms, Inc. has a 12-month low of $229.85 and a 12-month high of $531.49. The firm has a fifty day simple moving average of $494.48 and a 200 day simple moving average of $404.27. The company has a market cap of $1.13 trillion, a P/E ratio of 25.46, a PEG ratio of 1.12 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.33 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Activity at Meta Platforms

In other news, COO Javier Olivan sold 6,500 shares of Meta Platforms stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $400.00, for a total value of $2,600,000.00. Following the completion of the transaction, the chief operating officer now owns 68,935 shares in the company, valued at approximately $27,574,000. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $491.25, for a total transaction of $287,381.25. Following the completion of the sale, the insider now directly owns 37,228 shares of the company’s stock, valued at approximately $18,288,255. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 6,500 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $400.00, for a total value of $2,600,000.00. Following the completion of the transaction, the chief operating officer now directly owns 68,935 shares of the company’s stock, valued at $27,574,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,349,148 shares of company stock valued at $649,552,559. Insiders own 13.75% of the company’s stock.

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.