Dorsal Capital Management LP Has $166.87 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Dorsal Capital Management LP trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 28.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 285,000 shares of the social networking company's stock after selling 115,000 shares during the period. Meta Platforms comprises 3.9% of Dorsal Capital Management LP's holdings, making the stock its 8th largest position. Dorsal Capital Management LP's holdings in Meta Platforms were worth $166,870,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Principal Financial Group Inc. lifted its stake in Meta Platforms by 6.5% in 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 acquiring an additional 204,412 shares during the last quarter. Bank of New Hampshire lifted its stake in 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 purchasing an additional 30 shares during the last quarter. Diversified Trust Co lifted its stake in 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 purchasing an additional 970 shares during the last quarter. Regent Peak Wealth Advisors LLC increased its position in Meta Platforms by 5.8% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 5,020 shares of the social networking company's stock worth $2,939,000 after buying an additional 277 shares during the last quarter. Finally, Spartan Planning & Wealth Management acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $2,283,000. Institutional investors own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the sale, the chief operating officer now owns 5,622 shares in the company, valued at $2,744,547.96. This represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 35,795 shares of Meta Platforms stock in a transaction on Monday, February 10th. The shares were sold at an average price of $715.82, for a total value of $25,622,776.90. The disclosure for this sale can be found here. Insiders have sold a total of 155,689 shares of company stock valued at $109,097,842 over the last three months. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

META traded down $5.52 during midday trading on Friday, reaching $592.49. The company had a trading volume of 10,401,916 shares, compared to its average volume of 14,465,666. The business has a 50-day moving average price of $568.87 and a two-hundred day moving average price of $604.50. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The stock has a market cap of $1.50 trillion, a PE ratio of 24.77, a P/E/G ratio of 1.42 and a beta of 1.24.

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, 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 business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period in the prior year, the company earned $4.71 earnings per share. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts expect 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 paid a $0.525 dividend. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Friday, March 14th. Meta Platforms's payout ratio is currently 8.19%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Needham & Company LLC restated an "underperform" rating on shares of Meta Platforms in a research note on Thursday, May 1st. Arete Research raised shares of Meta Platforms to a "hold" rating in a report on Friday, January 24th. Pivotal Research cut their price objective on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group increased their target price on Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Finally, Susquehanna decreased their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $696.45.

Meta Platforms 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.