Meta Platforms, Inc. (NASDAQ:META) Stake Lowered by Mmbg Investment Advisors CO.

Mmbg Investment Advisors CO. decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 85,226 shares of the social networking company's stock after selling 2,612 shares during the period. Meta Platforms accounts for approximately 5.3% of Mmbg Investment Advisors CO.'s portfolio, making the stock its 5th largest holding. Mmbg Investment Advisors CO.'s holdings in Meta Platforms were worth $49,901,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after purchasing an additional 1,502,553 shares during the last quarter. Geode Capital Management LLC boosted its position in Meta Platforms by 2.1% during the 4th 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 lifted its position in Meta Platforms by 2.5% in the 4th 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 last quarter. Capital World Investors boosted its position 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 buying an additional 1,141,355 shares during the period. Finally, Norges Bank acquired a new position in shares of Meta Platforms during the fourth quarter valued at approximately $19,949,512,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jennifer Newstead sold 902 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $713.32, for a total value of $643,414.64. Following the sale, the insider now owns 27,488 shares in the company, valued at approximately $19,607,740.16. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 transaction of $6,300,738.51. Following 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. Insiders have sold a total of 119,894 shares of company stock valued at $83,475,065 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Performance

NASDAQ:META opened at $592.49 on Monday. The company has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 24.77, a PEG ratio of 1.42 and a beta of 1.24. The business has a 50 day moving average of $568.87 and a 200 day moving average of $604.75. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. 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 earnings results 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 net margin of 37.91% and a return on equity of 38.17%. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the firm earned $4.71 EPS. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. On average, sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid 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 a boost from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's payout ratio is currently 8.19%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on META. Citigroup raised their price objective on Meta Platforms from $655.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. KeyCorp upped their price objective on Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Susquehanna decreased their price target on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research note on Thursday, May 1st. Tigress Financial restated a "strong-buy" rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Finally, Oppenheimer lifted their target price on shares of Meta Platforms from $650.00 to $665.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and an average target price 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.

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