Zevenbergen Capital Investments LLC Sells 27,223 Shares of Meta Platforms, Inc. (NASDAQ:META)

Zevenbergen Capital Investments LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 421,446 shares of the social networking company's stock after selling 27,223 shares during the quarter. Meta Platforms accounts for about 5.0% of Zevenbergen Capital Investments LLC's portfolio, making the stock its 6th largest position. Zevenbergen Capital Investments LLC's holdings in Meta Platforms were worth $246,761,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in META. Proficio Capital Partners LLC lifted its stake in shares of Meta Platforms by 78,471.1% during the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after buying an additional 6,240,810 shares during the period. Raymond James Financial Inc. purchased a new position in Meta Platforms in the 4th quarter worth $2,243,603,000. Vanguard Group Inc. lifted its position in Meta Platforms by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company's stock worth $111,948,344,000 after acquiring an additional 1,502,553 shares during the period. Strategic Financial Concepts LLC grew its stake in Meta Platforms by 87,269.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company's stock valued at $625,125,000 after purchasing an additional 1,066,437 shares during the last quarter. Finally, World Investment Advisors LLC grew its stake in Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company's stock valued at $520,662,000 after purchasing an additional 890,434 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

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Meta Platforms Trading Down 3.6 %

Shares of NASDAQ META traded down $21.71 during midday trading on Friday, reaching $580.87. 8,123,490 shares of the stock were exchanged, compared to its average volume of 14,206,373. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The stock has a market capitalization of $1.47 trillion, a P/E ratio of 24.28, a PEG ratio of 1.42 and a beta of 1.23. The company has a 50 day simple moving average of $655.95 and a 200 day simple moving average of $607.98. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its 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 return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the previous year, the business earned $5.33 earnings per share. As a group, equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms's payout ratio is 8.78%.

Analyst Upgrades and Downgrades

META has been the subject of a number of research reports. DA Davidson lifted their target price on Meta Platforms from $700.00 to $800.00 and gave the stock a "buy" rating in a report on Thursday, January 30th. Robert W. Baird upped their price objective on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Tigress Financial reissued a "strong-buy" rating on shares of Meta Platforms in a report on Tuesday, February 11th. Susquehanna upped their price target on shares of Meta Platforms from $675.00 to $800.00 and gave the company a "positive" rating in a report on Thursday, January 30th. Finally, Morgan Stanley lifted their price objective 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 equities research analysts have rated the stock with a sell rating, four have assigned 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $718.31.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm's stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $591.76, for a total value of $535,542.80. Following the completion of the transaction, the insider now owns 32,915 shares of the company's stock, valued at $19,477,780.40. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 608 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $614.97, for a total value of $373,901.76. Following the sale, the chief operating officer now directly owns 6,838 shares in the company, valued at $4,205,164.86. This represents a 8.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 584,823 shares of company stock valued at $386,274,777 over the last quarter. 13.71% of the stock is owned by company 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.