Andar Capital Management HK Ltd Buys Shares of 13,000 Meta Platforms, Inc. (NASDAQ:META)

Andar Capital Management HK Ltd bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,000 shares of the social networking company’s stock, valued at approximately $4,601,000. Meta Platforms accounts for 6.5% of Andar Capital Management HK Ltd’s holdings, making the stock its 6th largest holding.

Several other large investors have also modified their holdings of the business. Concord Wealth Partners boosted its position in shares of Meta Platforms by 10.2% during the fourth quarter. Concord Wealth Partners now owns 8,496 shares of the social networking company’s stock valued at $3,007,000 after buying an additional 788 shares during the period. DiNuzzo Private Wealth Inc. bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $45,000. Essex Financial Services Inc. raised its stake in shares of Meta Platforms by 5.7% during the fourth quarter. Essex Financial Services Inc. now owns 13,246 shares of the social networking company’s stock valued at $4,689,000 after acquiring an additional 720 shares in the last quarter. ICW Investment Advisors LLC raised its stake in shares of Meta Platforms by 14.6% during the fourth quarter. ICW Investment Advisors LLC now owns 976 shares of the social networking company’s stock valued at $346,000 after acquiring an additional 124 shares in the last quarter. Finally, Berry Wealth Group LP bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $414,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 552 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total transaction of $256,128.00. Following the completion of the transaction, the insider now owns 34,168 shares of the company’s stock, valued at approximately $15,853,952. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $469.67, for a total value of $45,601,669.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 552 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total transaction of $256,128.00. Following the completion of the transaction, the insider now directly owns 34,168 shares of the company’s stock, valued at approximately $15,853,952. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,257,291 shares of company stock valued at $612,916,087. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 4.3 %

Shares of Meta Platforms stock traded up $18.54 during mid-day trading on Wednesday, hitting $448.71. The stock had a trading volume of 15,480,944 shares, compared to its average volume of 18,388,355. The firm has a 50-day moving average of $492.83 and a two-hundred day moving average of $406.97. Meta Platforms, Inc. has a 12-month low of $229.85 and a 12-month high of $531.49. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.14 trillion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 1.12 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Sell-side analysts forecast that Meta Platforms, Inc. will post 20.17 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Roth Mkm lifted their price target on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Oppenheimer decreased their price target on shares of Meta Platforms from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Mizuho boosted their price objective on shares of Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $509.18.

Meta Platforms Company 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.