BOCHK Asset Management Ltd Has $19.06 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

BOCHK Asset Management Ltd lessened its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,550 shares of the social networking company's stock after selling 573 shares during the period. Meta Platforms comprises 5.8% of BOCHK Asset Management Ltd's investment portfolio, making the stock its 5th biggest holding. BOCHK Asset Management Ltd's holdings in Meta Platforms were worth $19,058,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. increased its holdings in Meta Platforms by 14.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,290,674 shares of the social networking company's stock worth $1,341,213,000 after acquiring an additional 287,130 shares during the period. Verus Wealth Management LLC bought a new position in Meta Platforms during the fourth quarter valued at approximately $459,000. R Squared Ltd bought a new stake in Meta Platforms in the fourth quarter worth $533,000. Deane Retirement Strategies Inc. boosted its holdings in Meta Platforms by 1.0% during the 4th quarter. Deane Retirement Strategies Inc. now owns 5,839 shares of the social networking company's stock valued at $3,419,000 after acquiring an additional 58 shares during the period. Finally, Gateway Wealth Partners LLC grew its holdings in shares of Meta Platforms by 4.7% in the fourth quarter. Gateway Wealth Partners LLC now owns 4,211 shares of the social networking company's stock worth $2,466,000 after purchasing an additional 190 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Up 0.1 %

Shares of META traded up $0.68 on Wednesday, reaching $704.87. The company's stock had a trading volume of 17,774,527 shares, compared to its average volume of 16,128,546. The stock has a market capitalization of $1.78 trillion, a PE ratio of 29.47, a PEG ratio of 1.47 and a beta of 1.20. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $718.14. The firm has a fifty day moving average of $618.86 and a 200-day moving average of $570.21.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS 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 period in the previous year, the firm posted $5.33 EPS. Equities analysts predict that Meta Platforms, Inc. will post 25.94 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms's dividend payout ratio (DPR) is currently 8.36%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,951 shares of the business's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $577.16, for a total value of $5,166,159.16. Following the sale, the chief financial officer now directly owns 51,591 shares of the company's stock, valued at approximately $29,776,261.56. The trade was a 14.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total value of $21,838,890.37. The disclosure for this sale can be found here. In the last ninety days, insiders sold 674,291 shares of company stock valued at $416,549,092. Insiders own 13.71% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Roth Mkm raised their price target on Meta Platforms from $620.00 to $635.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. KeyCorp raised their price target on Meta Platforms from $700.00 to $750.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Morgan Stanley boosted their price target on Meta Platforms from $600.00 to $660.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. Monness Crespi & Hardt raised their price target on Meta Platforms from $620.00 to $660.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Robert W. Baird increased their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $710.83.

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.