Meta Platforms, Inc. (NASDAQ:META) is Capital International Inc. CA's 3rd Largest Position

Capital International Inc. CA increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 372,075 shares of the social networking company's stock after buying an additional 1,496 shares during the quarter. Meta Platforms accounts for 2.6% of Capital International Inc. CA's portfolio, making the stock its 3rd largest position. Capital International Inc. CA's holdings in Meta Platforms were worth $217,854,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Millstone Evans Group LLC purchased a new position in Meta Platforms in the 4th quarter worth approximately $40,000. Avondale Wealth Management bought a new stake in Meta Platforms in the fourth quarter valued at $41,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms during the 4th quarter valued at $43,000. Cordant Inc. purchased a new stake in shares of Meta Platforms in the 4th quarter worth about $59,000. Finally, Conquis Financial LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $59,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 4.2 %

META stock traded up $20.78 during midday trading on Wednesday, hitting $521.06. The company's stock had a trading volume of 12,270,100 shares, compared to its average volume of 14,784,817. Meta Platforms, Inc. has a 52-week low of $414.50 and a 52-week high of $740.91. The firm has a 50-day simple moving average of $598.76 and a 200-day simple moving average of $605.69. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.32 trillion, a P/E ratio of 21.78, a PEG ratio of 1.42 and a beta of 1.28.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating 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 last year, the business posted $5.33 EPS. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed 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 represents a $2.10 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's payout ratio is currently 8.78%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Guggenheim reduced their price objective on Meta Platforms from $750.00 to $675.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Bank of America decreased their target price on shares of Meta Platforms from $765.00 to $640.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Wells Fargo & Company raised 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. Argus set a $775.00 target price on Meta Platforms in a research note on Tuesday, February 4th. Finally, Oppenheimer upped their price target on Meta Platforms from $650.00 to $800.00 and gave the company an "outperform" rating in a 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 given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $676.55.

Insider Activity

In other news, CTO Andrew Bosworth sold 5,060 shares of Meta Platforms stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,727,550.20. Following the transaction, the chief technology officer now directly owns 5,139 shares of the company's stock, valued at $3,785,747.13. The trade was a 49.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the sale, the chief operating officer now owns 5,622 shares of the company's stock, valued at approximately $2,744,547.96. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 342,662 shares of company stock worth $237,476,709. Corporate insiders own 13.71% of the company's stock.

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.