Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Anchor Investment Management LLC

Anchor Investment Management LLC trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,990 shares of the social networking company’s stock after selling 114 shares during the quarter. Meta Platforms accounts for 1.1% of Anchor Investment Management LLC’s holdings, making the stock its 17th largest holding. Anchor Investment Management LLC’s holdings in Meta Platforms were worth $11,704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in Meta Platforms during the 4th quarter worth approximately $40,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the fourth quarter worth $41,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms in the fourth quarter valued at $43,000. Cordant Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at $59,000. Finally, Conquis Financial LLC purchased a new stake in Meta Platforms during the 4th quarter worth about $59,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $618.00, for a total value of $559,290.00. Following the transaction, the insider now owns 30,200 shares in the company, valued at approximately $18,663,600. This trade represents a 2.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 608 shares of the business’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the sale, the chief operating officer now directly owns 5,622 shares of the company’s stock, valued at approximately $2,744,547.96. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 450,214 shares of company stock valued at $304,162,130 in the last 90 days. 13.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on META shares. Guggenheim decreased their target price on Meta Platforms from $750.00 to $675.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Benchmark upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price objective for the company in a research report on Thursday, January 30th. Susquehanna increased their target price on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research report on Thursday, January 30th. Jefferies Financial Group reduced their price target on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. dropped their price objective on Meta Platforms from $725.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $692.93.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $531.48 on Tuesday. The company has a 50-day simple moving average of $624.88 and a 200-day simple moving average of $609.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market cap of $1.35 trillion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the company posted $5.33 earnings per share. On average, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. This represents a $2.10 annualized dividend and a yield of 0.40%. Meta Platforms’s payout ratio is 8.78%.

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.