Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Lowered by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP lessened its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 20.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 31,714 shares of the social networking company's stock after selling 7,987 shares during the period. Meta Platforms comprises approximately 5.0% of DoubleLine ETF Adviser LP's portfolio, making the stock its largest position. DoubleLine ETF Adviser LP's holdings in Meta Platforms were worth $18,569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wahed Invest LLC boosted its position in Meta Platforms by 4.1% in the 4th quarter. Wahed Invest LLC now owns 55,113 shares of the social networking company's stock valued at $32,269,000 after buying an additional 2,185 shares during the period. Pennington Partners & CO. LLC purchased a new position in Meta Platforms in the fourth quarter valued at $1,302,000. South Plains Financial Inc. acquired a new position in Meta Platforms during the 4th quarter worth $1,270,000. Palestra Capital Management LLC increased its holdings in Meta Platforms by 14.1% during the 4th quarter. Palestra Capital Management LLC now owns 438,062 shares of the social networking company's stock worth $256,490,000 after purchasing an additional 54,061 shares during the period. Finally, Davidson Kahn Capital Management LLC acquired a new stake in Meta Platforms in the 4th quarter valued at about $2,787,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on META. JPMorgan Chase & Co. upped their target price on shares of Meta Platforms from $610.00 to $675.00 and gave the stock an "overweight" rating in a research note on Thursday. Citigroup boosted their target price on shares of Meta Platforms from $655.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday. Oppenheimer raised their price target on Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a research note on Thursday. Barclays decreased their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms in a research report on Thursday. One analyst has rated the stock with a sell rating, four have assigned 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $696.45.

Meta Platforms Price Performance

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

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

Meta Platforms Increases Dividend

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

Insider Activity

In other news, CEO Mark Zuckerberg sold 55,589 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $702.24, for a total transaction of $635,527.20. Following the transaction, the insider now directly owns 28,390 shares of the company's stock, valued at $19,936,593.60. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 237,017 shares of company stock valued at $167,207,524 over the last 90 days. 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.