Meta Platforms, Inc. (NASDAQ:META) Stake Lowered by LRI Investments LLC

LRI Investments LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 0.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,478 shares of the social networking company’s stock after selling 53 shares during the quarter. Meta Platforms accounts for approximately 1.7% of LRI Investments LLC’s investment portfolio, making the stock its 9th largest holding. LRI Investments LLC’s holdings in Meta Platforms were worth $19,602,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Meta Platforms by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock valued at $111,948,344,000 after purchasing an additional 1,502,553 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Meta Platforms by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 49,181,127 shares of the social networking company’s stock valued at $28,719,970,000 after buying an additional 1,020,519 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company’s stock worth $24,777,282,000 after buying an additional 1,049,121 shares during the last quarter. Capital World Investors raised its stake in shares of Meta Platforms by 2.9% during the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company’s stock worth $23,606,338,000 after acquiring an additional 1,141,355 shares in the last quarter. Finally, Norges Bank purchased a new stake in Meta Platforms during the fourth quarter valued at approximately $19,949,512,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,466,769.02. Following the completion of the sale, the chief operating officer now owns 20,935 shares in the company, valued at approximately $15,422,186.45. This trade represents a 18.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $592.52, for a total value of $545,710.92. Following the transaction, the insider now owns 25,656 shares in the company, valued at $15,201,693.12. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,894 shares of company stock worth $83,475,065 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Down 0.9%

NASDAQ META opened at $592.49 on Monday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $740.91. The business’s fifty day simple moving average is $568.87 and its 200-day simple moving average is $604.75. The firm has a market cap of $1.50 trillion, a PE ratio of 24.77, a P/E/G ratio of 1.42 and a beta of 1.24.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate 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%. Meta Platforms’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.71 EPS. As a group, 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 announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a dividend of $0.525 per share. 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 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 8.19%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Cantor Fitzgerald raised 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. JPMorgan Chase & Co. boosted their target price on Meta Platforms from $610.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Wells Fargo & Company reduced their target price on Meta Platforms from $752.00 to $664.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Finally, BMO Capital Markets increased their price target on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $696.45.

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.