Meeder Asset Management Inc. Has $47.83 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Meeder Asset Management Inc. trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,693 shares of the social networking company's stock after selling 1,845 shares during the quarter. Meta Platforms makes up about 3.3% of Meeder Asset Management Inc.'s investment portfolio, making the stock its 6th largest holding. Meeder Asset Management Inc.'s holdings in Meta Platforms were worth $47,832,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms in the third quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new stake in Meta Platforms during the 3rd quarter valued at approximately $36,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $40,000. Avondale Wealth Management bought a new position in Meta Platforms in the 4th quarter worth approximately $41,000. Finally, WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $43,000. Institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 4,706 shares of the firm's stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the sale, the chief operating officer now owns 20,935 shares of the company's stock, valued at approximately $15,422,186.45. This trade represents a 18.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 5,060 shares of the business'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 transaction, the chief technology officer now directly owns 5,139 shares of the company's stock, valued at approximately $3,785,747.13. The trade was a 49.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 583,505 shares of company stock worth $385,495,911. 13.71% of the stock is currently owned by company insiders.

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Meta Platforms Trading Up 1.7 %

Shares of NASDAQ:META traded up $9.64 during trading on Tuesday, hitting $586.00. 12,803,334 shares of the company's stock were exchanged, compared to its average volume of 14,260,185. The firm has a 50-day moving average price of $654.50 and a two-hundred day moving average price of $610.25. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The firm has a market cap of $1.48 trillion, a P/E ratio of 24.50, a PEG 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.

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

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a dividend of $0.525 per share. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.36%. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio (DPR) is 8.78%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on META. The Goldman Sachs Group upped their target price on shares of Meta Platforms from $688.00 to $765.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. Raymond James reissued a "strong-buy" rating and set a $800.00 target price (up from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Mizuho upped their price target on Meta Platforms from $675.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Citigroup lifted their price objective on Meta Platforms from $753.00 to $780.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Finally, Morgan Stanley upped their target price on Meta Platforms from $600.00 to $660.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $718.55.

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.