CoreCap Advisors LLC reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,275 shares of the social networking company's stock after selling 660 shares during the quarter. CoreCap Advisors LLC's holdings in Meta Platforms were worth $7,187,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in Meta Platforms by 6.5% during the third quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company's stock valued at $1,928,185,000 after buying an additional 204,412 shares in the last quarter. Bank of New Hampshire increased its holdings in shares of Meta Platforms by 3.1% in the 4th quarter. Bank of New Hampshire now owns 1,007 shares of the social networking company's stock valued at $590,000 after acquiring an additional 30 shares during the last quarter. Diversified Trust Co increased its holdings in shares of Meta Platforms by 1.3% in the 4th quarter. Diversified Trust Co now owns 75,464 shares of the social networking company's stock valued at $44,185,000 after acquiring an additional 970 shares during the last quarter. Regent Peak Wealth Advisors LLC raised its position in shares of Meta Platforms by 5.8% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company's stock valued at $2,939,000 after acquiring an additional 277 shares in the last quarter. Finally, Spartan Planning & Wealth Management bought a new position in Meta Platforms during the fourth quarter worth $2,283,000. Institutional investors and hedge funds own 79.91% of the company's stock.
Meta Platforms Trading Down 2.0 %
NASDAQ:META opened at $587.31 on Wednesday. The stock has a market cap of $1.49 trillion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock's 50-day moving average is $572.38 and its two-hundred day moving average is $604.03.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the previous year, the firm posted $4.71 earnings per share. The firm's revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.36%. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.
Insider Activity at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $545.17, for a total value of $502,101.57. Following the completion of the sale, the insider now directly owns 26,577 shares in the company, valued at $14,488,983.09. The trade was a 3.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 55,589 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 209,749 shares of company stock valued at $148,089,532. Insiders own 13.71% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Morgan Stanley increased their price target on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. UBS Group increased their target price on Meta Platforms from $650.00 to $683.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Moffett Nathanson raised their target price on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Wedbush upped their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, DA Davidson cut their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and a consensus price target of $696.45.
Check Out Our Latest Report on Meta Platforms
Meta Platforms Profile
(
Free Report)
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.
See Also
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