Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Capital Group Investment Management PTE. LTD.

Capital Group Investment Management PTE. LTD. lessened its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,577 shares of the social networking company's stock after selling 527 shares during the period. Meta Platforms comprises about 6.0% of Capital Group Investment Management PTE. LTD.'s portfolio, making the stock its largest holding. Capital Group Investment Management PTE. LTD.'s holdings in Meta Platforms were worth $31,370,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $40,000. Avondale Wealth Management acquired a new position in Meta Platforms in the fourth quarter valued at about $41,000. WealthTrak Capital Management LLC bought a new position in Meta Platforms in the 4th quarter valued at about $43,000. Cordant Inc. bought a new stake in shares of Meta Platforms during the 4th quarter worth approximately $59,000. Finally, Conquis Financial LLC bought a new position in Meta Platforms in the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling

In other news, COO Javier Olivan sold 608 shares of the company's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $488.18, for a total value of $296,813.44. Following the sale, the chief operating officer now owns 5,622 shares in the company, valued at approximately $2,744,547.96. This represents a 9.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the company's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $626.80, for a total value of $22,515,282.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 378,583 shares of company stock valued at $259,991,992. Insiders own 13.71% of the company's stock.

Wall Street Analysts Forecast Growth

META has been the topic of several research analyst reports. DA Davidson cut their target price on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company lifted their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. KeyCorp decreased their price target on shares of Meta Platforms from $710.00 to $645.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Mizuho upped their price target on Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Finally, Scotiabank dropped their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a report on Monday. Two investment 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and an average price target of $681.67.

Meta Platforms Price Performance

META stock traded up $18.96 during trading on Tuesday, reaching $503.62. 6,740,392 shares of the company were exchanged, compared to its average volume of 14,764,032. Meta Platforms, Inc. has a 52-week low of $414.50 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. The stock's 50 day moving average price is $603.33 and its 200 day moving average price is $606.43. The company has a market cap of $1.28 trillion, a P/E ratio of 21.03, a PEG ratio of 1.42 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its quarterly earnings data 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 in the previous year, the business posted $5.33 earnings per share. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were paid a $0.525 dividend. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, March 14th. Meta Platforms's dividend payout ratio is presently 8.78%.

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.