Maytus Capital Management LLC Cuts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Maytus Capital Management LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 62.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,000 shares of the social networking company’s stock after selling 16,800 shares during the quarter. Meta Platforms accounts for 2.0% of Maytus Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Maytus Capital Management LLC’s holdings in Meta Platforms were worth $5,855,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at about $40,000. WealthTrak Capital Management LLC acquired a new stake in shares of Meta Platforms in the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the fourth quarter worth $45,000. Cordant Inc. acquired a new stake in Meta Platforms in the fourth quarter valued at $59,000. Finally, Conquis Financial LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $592.00, for a total value of $359,936.00. Following the completion of the transaction, the chief operating officer now owns 3,190 shares in the company, valued at approximately $1,888,480. This represents a 16.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 921 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $736.07, for a total transaction of $677,920.47. Following the transaction, the insider now directly owns 35,787 shares of the company’s stock, valued at $26,341,737.09. The trade was a 2.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,992 shares of company stock worth $82,831,650. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 7.9%

META stock opened at $639.43 on Tuesday. 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 firm has a market cap of $1.62 trillion, a PE ratio of 26.73, a PEG ratio of 1.42 and a beta of 1.24. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year high of $740.91. The company has a fifty day simple moving average of $568.53 and a 200 day simple moving average of $605.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. The company had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $4.71 earnings per share. Sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS 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 given 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 0.33%. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 8.19%.

Analysts Set New Price Targets

Several brokerages recently issued reports on META. Guggenheim lifted their price objective on Meta Platforms from $675.00 to $725.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Cantor Fitzgerald lifted their price objective on Meta Platforms from $624.00 to $676.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Citigroup upped their target price on shares of Meta Platforms from $655.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Benchmark lowered their target price on shares of Meta Platforms from $820.00 to $640.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, UBS Group raised their price objective on Meta Platforms from $650.00 to $683.00 and gave the stock a “buy” rating in a report 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $696.45.

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.