Meta Platforms, Inc. (NASDAQ:META) is Waycross Partners LLC’s 3rd Largest Position

Waycross Partners LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,048 shares of the social networking company’s stock after purchasing an additional 2,498 shares during the quarter. Meta Platforms accounts for approximately 4.8% of Waycross Partners LLC’s investment portfolio, making the stock its 3rd biggest holding. Waycross Partners LLC’s holdings in Meta Platforms were worth $25,502,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of META. Stone House Investment Management LLC boosted its holdings in shares of Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after purchasing an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC lifted its stake in shares of Meta Platforms by 68.9% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares during the last quarter. PayPay Securities Corp boosted its stake in Meta Platforms by 65.2% during the third quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock worth $33,000 after buying an additional 43 shares during the period. Cranbrook Wealth Management LLC lifted its holdings in shares of Meta Platforms by 80.4% in the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC acquired a new position in Meta Platforms during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.6 %

NASDAQ META traded down $2.45 on Tuesday, hitting $430.17. 18,396,504 shares of the stock traded hands, compared to its average volume of 18,427,248. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $492.83 and a 200 day moving average of $406.97. Meta Platforms, Inc. has a twelve month low of $229.85 and a twelve month high of $531.49. The company has a market capitalization of $1.10 trillion, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 1.15 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its quarterly 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. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, analysts expect that Meta Platforms, Inc. will post 20.2 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders 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 0.46%. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on META shares. Evercore ISI boosted their price objective on shares of Meta Platforms from $425.00 to $550.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Canaccord Genuity Group lifted their target price on shares of Meta Platforms from $450.00 to $540.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Robert W. Baird lowered their target price on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Sanford C. Bernstein reduced their target price on shares of Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Finally, Wedbush cut their target price on Meta Platforms from $570.00 to $480.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. One investment 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 stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $509.18.

Insider Activity

In related news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $522.00, for a total transaction of $305,370.00. Following the completion of the transaction, the insider now owns 38,398 shares in the company, valued at approximately $20,043,756. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now directly owns 38,398 shares of the company’s stock, valued at $20,043,756. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,276,482 shares of company stock valued at $620,451,095. 13.71% of the stock is currently owned by insiders.

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.