JAT Capital Mgmt LP Has $8.78 Million Position in Meta Platforms, Inc. (NASDAQ:META)

JAT Capital Mgmt LP reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 51.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,000 shares of the social networking company’s stock after selling 15,662 shares during the quarter. Meta Platforms accounts for 1.4% of JAT Capital Mgmt LP’s investment portfolio, making the stock its 19th biggest holding. JAT Capital Mgmt LP’s holdings in Meta Platforms were worth $8,783,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Guardian Capital LP increased its stake in shares of Meta Platforms by 429.5% in the fourth quarter. Guardian Capital LP now owns 17,283 shares of the social networking company’s stock worth $10,119,000 after acquiring an additional 14,019 shares during the last quarter. Rehmann Capital Advisory Group increased its position in Meta Platforms by 47.1% during the fourth quarter. Rehmann Capital Advisory Group now owns 16,462 shares of the social networking company’s stock worth $9,639,000 after buying an additional 5,268 shares during the last quarter. GG Group Ventures LLC increased its position in Meta Platforms by 14.3% during the fourth quarter. GG Group Ventures LLC now owns 953 shares of the social networking company’s stock worth $558,000 after buying an additional 119 shares during the last quarter. Wick Capital Partners LLC increased its position in Meta Platforms by 701.1% during the fourth quarter. Wick Capital Partners LLC now owns 4,390 shares of the social networking company’s stock worth $2,570,000 after buying an additional 3,842 shares during the last quarter. Finally, Navigoe LLC acquired a new position in Meta Platforms during the fourth quarter worth $1,258,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META stock opened at $554.44 on Wednesday. The stock’s fifty day moving average is $581.11 and its 200-day moving average is $604.05. The stock has a market capitalization of $1.40 trillion, a PE ratio of 23.18, a PEG ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $427.11 and a 52 week high of $740.91. 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 (NASDAQ:META) last posted its quarterly earnings results 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 previous year, the business earned $5.33 EPS. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently declared 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 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 0.38%. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Oppenheimer increased their target price on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. BMO Capital Markets lifted their price target on Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Benchmark dropped their price target on Meta Platforms from $820.00 to $640.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Mizuho lifted their price target on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Jefferies Financial Group dropped their price target on Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Two 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $681.95.

Insider Activity at Meta Platforms

In other news, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $491.87, for a total transaction of $453,012.27. Following the transaction, the insider now owns 27,498 shares in the company, valued at $13,525,441.26. The trade was a 3.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 12,975 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $696.39, for a total value of $9,035,660.25. Following the sale, the chief executive officer now directly owns 210,971 shares of the company’s stock, valued at approximately $146,918,094.69. The trade was a 5.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 248,463 shares of company stock worth $175,403,314 over the last 90 days. Insiders own 13.71% of the company’s stock.

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.