Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Berkshire Capital Holdings Inc.

Berkshire Capital Holdings Inc. lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 31.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,500 shares of the social networking company's stock after selling 10,300 shares during the quarter. Meta Platforms accounts for about 4.8% of Berkshire Capital Holdings Inc.'s investment portfolio, making the stock its 7th largest position. Berkshire Capital Holdings Inc.'s holdings in Meta Platforms were worth $13,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Meta Platforms Stock Down 2.4 %

Shares of META stock traded down $15.33 on Wednesday, hitting $610.98. 12,592,026 shares of the stock were exchanged, compared to its average volume of 13,819,907. The business has a 50-day moving average of $656.24 and a 200 day moving average of $608.00. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The firm has a market capitalization of $1.55 trillion, a P/E ratio of 25.54, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

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

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be 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 0.34%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms's payout ratio is presently 8.78%.

Analyst Ratings Changes

A number of brokerages have weighed in on META. Pivotal Research boosted their target price on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Bank of America boosted their price objective on shares of Meta Platforms from $710.00 to $765.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Truist Financial increased their price objective on Meta Platforms from $700.00 to $770.00 and gave the company a "buy" rating in a research report on Thursday, January 30th. Wells Fargo & Company boosted their target price on Meta Platforms from $685.00 to $752.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group raised their price target on Meta Platforms from $688.00 to $765.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and an average price target of $718.31.

Insiders Place Their Bets

In related news, CTO Andrew Bosworth sold 5,060 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief technology officer now directly owns 5,139 shares in the company, valued at approximately $3,785,747.13. This trade represents a 49.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $589.16, for a total transaction of $243,323.08. Following the sale, the chief operating officer now owns 17,514 shares of the company's stock, valued at approximately $10,318,548.24. This represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 585,605 shares of company stock valued at $386,710,448 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

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.