Raleigh Capital Management Inc. Purchases 157 Shares of Meta Platforms, Inc. (NASDAQ:META)

Raleigh Capital Management Inc. raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.2% during the fourth quarter, Holdings Channel reports. The fund owned 3,905 shares of the social networking company’s stock after buying an additional 157 shares during the period. Meta Platforms comprises about 0.9% of Raleigh Capital Management Inc.’s investment portfolio, making the stock its 21st biggest position. Raleigh Capital Management Inc.’s holdings in Meta Platforms were worth $2,287,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. JDM Financial Group LLC bought a new stake in Meta Platforms in the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms during the 3rd quarter valued at $36,000. Avondale Wealth Management purchased a new stake in Meta Platforms during the 4th quarter valued at $41,000. Halpern Financial Inc. bought a new stake in Meta Platforms in the 3rd quarter worth $46,000. Finally, West Financial Advisors LLC purchased a new position in shares of Meta Platforms in the third quarter valued at about $49,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 1.7 %

NASDAQ META opened at $647.49 on Friday. The stock’s 50-day moving average price is $601.93 and its 200-day moving average price is $560.33. The company has a market capitalization of $1.63 trillion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52 week low of $385.66 and a 52 week high of $652.00.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results 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 business had revenue of $40.59 billion during 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, equities research analysts predict that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analyst Ratings Changes

Several research firms recently issued reports on META. Susquehanna raised their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “positive” rating in a research note on Thursday, October 31st. Pivotal Research upped their target price on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, October 31st. KeyCorp lifted their price target on shares of Meta Platforms from $655.00 to $700.00 and gave the company an “overweight” rating in a report on Friday, January 10th. The Goldman Sachs Group boosted their price objective on shares of Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Wolfe Research raised their target price on shares of Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $654.20.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $631.55, for a total value of $571,552.75. Following the sale, the insider now owns 32,010 shares in the company, valued at $20,215,915.50. The trade was a 2.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $626.80, for a total value of $22,515,282.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 568,016 shares of company stock valued at $346,031,180. Corporate insiders own 13.71% of the company’s stock.

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.