Alight Capital Management LP Has $11.71 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Alight Capital Management LP decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 20.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,000 shares of the social networking company's stock after selling 5,000 shares during the quarter. Meta Platforms makes up about 3.8% of Alight Capital Management LP's holdings, making the stock its 8th largest position. Alight Capital Management LP's holdings in Meta Platforms were worth $11,710,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in META. Vanguard Group Inc. increased its position in Meta Platforms by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock valued at $111,948,344,000 after acquiring an additional 1,502,553 shares during the period. Geode Capital Management LLC increased its holdings in shares of Meta Platforms by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company's stock valued at $28,719,970,000 after purchasing an additional 1,020,519 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Meta Platforms by 2.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after purchasing an additional 1,049,121 shares during the period. Capital World Investors raised its stake in shares of Meta Platforms by 2.9% during the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Meta Platforms during the fourth quarter worth $19,949,512,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Trading Up 4.3 %

Shares of META traded up $24.81 during mid-day trading on Friday, hitting $597.02. The company had a trading volume of 24,702,127 shares, compared to its average volume of 14,455,871. The stock has a market cap of $1.51 trillion, a PE ratio of 24.96, a P/E/G ratio of 1.42 and a beta of 1.24. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The business's 50-day simple moving average is $575.29 and its 200-day simple moving average is $603.80. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same period last year, the company posted $4.71 earnings per share. The firm's revenue was up 16.1% compared to the same quarter last year. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.35%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's payout ratio is presently 8.19%.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $676.00, for a total transaction of $279,188.00. Following the transaction, the chief operating officer now owns 15,449 shares of the company's stock, valued at $10,443,524. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Susan J. Li sold 8,553 shares of the business's stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the sale, the chief financial officer now owns 51,793 shares of the company's stock, valued at $38,154,349.31. This trade represents a 14.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 237,017 shares of company stock worth $167,207,524. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on META. Evercore ISI upped their price objective on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday. Robert W. Baird increased their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. UBS Group raised their price objective on shares of Meta Platforms from $650.00 to $683.00 and gave the company a "buy" rating in a research report on Thursday. The Goldman Sachs Group boosted their target price on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Oppenheimer raised their price target on Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $696.45.

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.