Maj Invest Holding A S Trims Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Maj Invest Holding A S trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 12.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 220,378 shares of the social networking company's stock after selling 31,464 shares during the period. Meta Platforms makes up approximately 4.2% of Maj Invest Holding A S's holdings, making the stock its 15th largest position. Maj Invest Holding A S's holdings in Meta Platforms were worth $129,033,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of META. Lindenwold Advisors INC raised its stake in Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company's stock valued at $3,388,000 after buying an additional 17 shares during the last quarter. Insight Wealth Strategies LLC raised its position in shares of Meta Platforms by 1.6% in the 4th quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company's stock valued at $625,000 after purchasing an additional 17 shares during the last quarter. Steigerwald Gordon & Koch Inc. boosted its stake in Meta Platforms by 0.6% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company's stock worth $1,569,000 after purchasing an additional 17 shares in the last quarter. Central Valley Advisors LLC increased its stake in Meta Platforms by 0.3% during the 3rd quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company's stock valued at $3,271,000 after purchasing an additional 18 shares in the last quarter. Finally, Cherrydale Wealth Management LLC lifted its stake in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company's stock worth $2,199,000 after buying an additional 18 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on META. Citigroup increased their price objective on Meta Platforms from $645.00 to $705.00 and gave the company a "buy" rating in a report on Thursday, October 31st. TD Cowen raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Scotiabank increased their price objective on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a "sector perform" rating in a research note on Thursday. DA Davidson boosted their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Guggenheim increased their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a "buy" rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus target price of $698.98.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $567.58, for a total transaction of $234,410.54. Following the completion of the sale, the chief operating officer now directly owns 10,294 shares of the company's stock, valued at $5,842,668.52. The trade was a 3.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the transaction, the insider now owns 30,581 shares in the company, valued at approximately $17,360,833.70. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 661,312 shares of company stock valued at $407,377,422. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Up 1.9 %

Shares of Meta Platforms stock traded up $12.93 on Thursday, reaching $689.42. The company had a trading volume of 20,861,034 shares, compared to its average volume of 15,245,674. The firm's 50 day moving average price is $608.52 and its two-hundred day moving average price is $563.58. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a 52-week low of $387.10 and a 52-week high of $710.79. The firm has a market cap of $1.74 trillion, a PE ratio of 32.44, a PEG ratio of 1.18 and a beta of 1.19.

Meta Platforms (NASDAQ:META - Get Free Report) last released 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 return on equity of 35.60% and a net margin of 35.55%. During the same quarter in the previous year, the business earned $5.33 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is presently 9.42%.

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.