Mondrian Investment Partners LTD decreased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 225,272 shares of the social networking company's stock after selling 71,196 shares during the quarter. Meta Platforms accounts for about 2.3% of Mondrian Investment Partners LTD's holdings, making the stock its 17th largest holding. Mondrian Investment Partners LTD's holdings in Meta Platforms were worth $131,899,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in META. Howard Capital Management Group LLC grew its stake in shares of Meta Platforms by 17.9% during the third quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company's stock worth $946,000 after purchasing an additional 251 shares in the last quarter. Principal Financial Group Inc. increased 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 worth $1,928,185,000 after acquiring an additional 204,412 shares during the last quarter. SOA Wealth Advisors LLC. boosted its position in shares of Meta Platforms by 9.1% in the third quarter. SOA Wealth Advisors LLC. now owns 3,219 shares of the social networking company's stock worth $1,842,000 after buying an additional 269 shares during the period. Aldebaran Financial Inc. boosted its stake in shares of Meta Platforms by 10.2% in the third quarter. Aldebaran Financial Inc. now owns 2,853 shares of the social networking company's stock valued at $1,633,000 after purchasing an additional 264 shares during the period. Finally, Te Ahumairangi Investment Management Ltd boosted its stake in shares of Meta Platforms by 9.5% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 17,048 shares of the social networking company's stock valued at $9,704,000 after buying an additional 1,480 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Meta Platforms from $600.00 to $660.00 and gave the company an "overweight" rating in a report on Monday, January 13th. UBS Group decreased their target price on shares of Meta Platforms from $786.00 to $650.00 and set a "buy" rating for the company in a research note on Friday, April 11th. JMP Securities reiterated a "market outperform" rating and issued a $750.00 target price on shares of Meta Platforms in a research note on Monday, January 27th. Cantor Fitzgerald restated an "overweight" rating and set a $790.00 price target on shares of Meta Platforms in a report on Wednesday, April 2nd. Finally, Susquehanna boosted their price objective on Meta Platforms from $675.00 to $800.00 and gave the stock a "positive" rating in a research report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $690.79.
Get Our Latest Report on META
Insiders Place Their Bets
In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of the firm's stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the sale, the chief financial officer now directly owns 51,793 shares of the company's stock, valued at $38,154,349.31. This trade represents a 14.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction on Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 414,293 shares of company stock worth $282,029,046. 13.71% of the stock is owned by corporate insiders.
Meta Platforms Price Performance
META traded down $13.64 during trading hours on Wednesday, hitting $507.88. The company's stock had a trading volume of 3,144,478 shares, compared to its average volume of 14,738,776. The business's 50-day moving average price is $621.07 and its 200-day moving average price is $608.54. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. 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 stock has a market cap of $1.29 trillion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 1.42 and a beta of 1.28.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the firm earned $5.33 EPS. 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 issued a $0.525 dividend. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Friday, March 14th. Meta Platforms's payout ratio is presently 8.78%.
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.
Further Reading
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