Jag Capital Management LLC Cuts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Jag Capital Management LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 25.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,894 shares of the social networking company's stock after selling 16,271 shares during the period. Meta Platforms comprises 4.0% of Jag Capital Management LLC's investment portfolio, making the stock its 5th biggest position. Jag Capital Management LLC's holdings in Meta Platforms were worth $28,628,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JDM Financial Group LLC acquired a new position in shares of Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms in the third quarter valued at $36,000. Avondale Wealth Management purchased a new stake in shares of Meta Platforms in the fourth quarter valued at $41,000. Cordant Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter valued at $59,000. Finally, Bear Mountain Capital Inc. purchased a new stake in Meta Platforms during the 4th quarter worth about $70,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 22,035 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $618.63, for a total transaction of $13,631,512.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 413 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $629.56, for a total value of $260,008.28. Following the sale, the chief operating officer now owns 18,340 shares of the company's stock, valued at approximately $11,546,130.40. This represents a 2.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 690,689 shares of company stock valued at $451,269,409 over the last quarter. Company insiders own 13.71% of the company's stock.

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Meta Platforms Price Performance

META stock traded up $17.48 during trading hours on Friday, hitting $607.60. 12,327,951 shares of the stock traded hands, compared to its average volume of 13,665,212. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.54 trillion, a P/E ratio of 25.40, a P/E/G ratio of 1.42 and a beta of 1.23. The stock has a 50-day simple moving average of $657.96 and a 200 day simple moving average of $602.00.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 earned $5.33 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.525 per share. The ex-dividend date is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. This is a positive change from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's payout ratio is currently 8.78%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on META shares. Tigress Financial reaffirmed a "strong-buy" rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Citigroup raised their target price on shares of Meta Platforms from $753.00 to $780.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. BMO Capital Markets upped their price objective on shares of Meta Platforms from $530.00 to $610.00 and gave the company a "market perform" rating in a research note on Thursday, January 30th. Barclays upped their price target on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Finally, Mizuho upped their price objective on Meta Platforms from $675.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $719.26.

About Meta Platforms

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.