Meta Platforms, Inc. (NASDAQ:META) Holdings Decreased by MIG Capital LLC

MIG Capital LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,394 shares of the social networking company’s stock after selling 13,033 shares during the period. Meta Platforms makes up about 5.7% of MIG Capital LLC’s holdings, making the stock its 7th biggest position. MIG Capital LLC’s holdings in Meta Platforms were worth $55,269,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms in the third quarter worth approximately $30,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the 4th quarter worth approximately $40,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the 4th quarter valued at $41,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at $43,000. Finally, Cordant Inc. acquired a new position in shares of Meta Platforms in the fourth quarter worth $59,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Jefferies Financial Group lowered their target price on Meta Platforms from $810.00 to $725.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Susquehanna raised their target price on Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a report on Thursday, January 30th. Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Benchmark upgraded Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price for the company in a report on Thursday, January 30th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $811.00 price target on shares of Meta Platforms in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $718.55.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 8,553 shares of Meta Platforms 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 approximately $38,154,349.31. This trade represents a 14.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 549,113 shares of company stock worth $364,668,246. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $504.73 on Friday. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The firm’s 50-day moving average price is $648.15 and its two-hundred day moving average price is $610.27. 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 capitalization of $1.28 trillion, a price-to-earnings ratio of 21.10, a P/E/G ratio of 1.42 and a beta of 1.28.

Meta Platforms (NASDAQ:META) 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 the consensus estimate 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 period in the prior year, the business posted $5.33 earnings per share. On average, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a dividend of $0.525 per share. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.42%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.78%.

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.