Meta Platforms, Inc. (NASDAQ:META) is Amica Mutual Insurance Co.'s 6th Largest Position

Amica Mutual Insurance Co. cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,430 shares of the social networking company's stock after selling 1,429 shares during the period. Meta Platforms comprises approximately 2.7% of Amica Mutual Insurance Co.'s investment portfolio, making the stock its 6th largest holding. Amica Mutual Insurance Co.'s holdings in Meta Platforms were worth $26,014,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Howard Capital Management Group LLC increased its stake in shares of Meta Platforms by 17.9% in the third quarter. Howard Capital Management Group LLC now owns 1,652 shares of the social networking company's stock worth $946,000 after purchasing an additional 251 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Meta Platforms by 6.5% during the 3rd quarter. Principal Financial Group Inc. now owns 3,368,361 shares of the social networking company's stock valued at $1,928,185,000 after buying an additional 204,412 shares in the last quarter. United Bank lifted its stake in Meta Platforms by 22.2% during the third quarter. United Bank now owns 5,569 shares of the social networking company's stock worth $3,188,000 after purchasing an additional 1,011 shares during the last quarter. Blue Investment Partners LLC lifted its position in Meta Platforms by 10.8% in the 3rd quarter. Blue Investment Partners LLC now owns 8,358 shares of the social networking company's stock worth $4,784,000 after buying an additional 813 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in shares of Meta Platforms by 3.4% during the 3rd quarter. D.A. Davidson & CO. now owns 71,472 shares of the social networking company's stock valued at $40,914,000 after purchasing an additional 2,333 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

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Meta Platforms Price Performance

Shares of NASDAQ:META traded down $25.84 during trading on Friday, hitting $576.74. 17,561,028 shares of the company's stock were exchanged, compared to its average volume of 14,238,405. The business's 50-day simple moving average is $655.23 and its 200 day simple moving average is $609.21. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 24.11, a PEG ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts' consensus estimates 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 quarter last year, the business earned $5.33 earnings per share. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a dividend of $0.525 per share. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Friday, March 14th. Meta Platforms's dividend payout ratio is currently 8.78%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Benchmark upgraded Meta Platforms from a "hold" rating to a "buy" rating and set a $820.00 price target on the stock in a research report on Thursday, January 30th. Wells Fargo & Company boosted their price target on shares of Meta Platforms from $685.00 to $752.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their price target on Meta Platforms from $700.00 to $800.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Citigroup raised their target price on shares of Meta Platforms from $753.00 to $780.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Finally, Wolfe Research lifted their price target on Meta Platforms from $670.00 to $730.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $718.31.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 55,589 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 4,706 shares of the stock in a transaction on Saturday, February 15th. The stock was 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. The trade was a 18.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 584,823 shares of company stock valued at $386,274,777. 13.71% of the stock is owned by corporate insiders.

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.