Meta Platforms, Inc. (NASDAQ:META) is Cat Rock Capital Management LP's Largest Position

Cat Rock Capital Management LP decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 334,491 shares of the social networking company's stock after selling 45,600 shares during the period. Meta Platforms comprises about 25.6% of Cat Rock Capital Management LP's portfolio, making the stock its largest holding. Cat Rock Capital Management LP's holdings in Meta Platforms were worth $195,848,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Valley Financial Group Inc. raised its position in shares of Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after purchasing an additional 14 shares during the period. Seelaus Asset Management LLC grew its stake in Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock valued at $960,000 after buying an additional 15 shares in the last quarter. Meredith Wealth Planning raised its holdings in Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock valued at $1,097,000 after acquiring an additional 15 shares during the period. Maiden Cove Capital LLC lifted its position in shares of Meta Platforms by 3.2% during the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after acquiring an additional 15 shares in the last quarter. Finally, Riverwater Partners LLC boosted its holdings in shares of Meta Platforms by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after acquiring an additional 15 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Down 0.8 %

Meta Platforms stock traded down $4.89 during trading hours on Friday, hitting $593.12. 7,572,186 shares of the stock traded hands, compared to its average volume of 14,420,298. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a market cap of $1.50 trillion, a PE ratio of 24.80, a PEG ratio of 1.42 and a beta of 1.24. The firm's 50-day moving average price is $569.82 and its two-hundred day moving average price is $604.14. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping 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 business had revenue of $42.31 billion for the quarter, compared to analysts' expectations of $41.45 billion. During the same quarter in the prior year, the company earned $4.71 earnings per share. The business's revenue was up 16.1% compared to the same quarter last year. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

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

Analyst Ratings Changes

META has been the topic of a number of recent research reports. Royal Bank of Canada reissued an "outperform" rating and set a $740.00 price objective on shares of Meta Platforms in a report on Thursday, May 1st. Loop Capital cut their price objective on shares of Meta Platforms from $900.00 to $695.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Barclays decreased their target price on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. KeyCorp raised their price target on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, Benchmark decreased their price target on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. One research 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $696.45.

Insider Transactions at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, May 5th. The stock was sold at an average price of $592.00, for a total value of $359,936.00. Following the completion of the sale, the chief operating officer now owns 3,190 shares of the company's stock, valued at approximately $1,888,480. This trade represents a 16.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $592.52, for a total value of $545,710.92. Following the transaction, the insider now directly owns 25,656 shares in the company, valued at approximately $15,201,693.12. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,689 shares of company stock valued at $109,097,842. 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.