Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 9,793,321 shares of the social networking company's stock after selling 946,723 shares during the period. Meta Platforms makes up 1.1% of Wellington Management Group LLP's investment portfolio, making the stock its 12th largest holding. Wellington Management Group LLP owned about 0.39% of Meta Platforms worth $5,734,087,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of META. Partners in Financial Planning purchased a new position in Meta Platforms during the fourth quarter worth about $361,000. O Shaughnessy Asset Management LLC raised its stake in shares of Meta Platforms by 15.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 227,738 shares of the social networking company's stock worth $133,343,000 after buying an additional 31,194 shares in the last quarter. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Meta Platforms in the 4th quarter valued at approximately $3,864,000. Inkwell Capital LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $3,631,000. Finally, United Bank grew its holdings in Meta Platforms by 11.1% during the fourth quarter. United Bank now owns 6,186 shares of the social networking company's stock worth $3,622,000 after acquiring an additional 617 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on META. Arete Research upgraded shares of Meta Platforms to a "hold" rating in a research note on Friday, January 24th. Rosenblatt Securities reissued a "buy" rating and issued a $811.00 target price on shares of Meta Platforms in a report on Monday, January 27th. Piper Sandler raised their price objective on shares of Meta Platforms from $670.00 to $775.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. Raymond James reiterated a "strong-buy" rating and set a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. Finally, Royal Bank of Canada lifted their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the stock an "outperform" rating in a report on Thursday, January 30th. Two equities research 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 given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $718.55.

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Meta Platforms Stock Performance

Meta Platforms stock traded up $9.64 during mid-day trading on Tuesday, reaching $586.00. The company's stock had a trading volume of 12,803,334 shares, compared to its average volume of 14,260,171. 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, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The business has a 50 day moving average price of $654.50 and a 200-day moving average price of $610.25. The firm has a market cap of $1.48 trillion, a price-to-earnings ratio of 24.50, a PEG ratio of 1.42 and a beta of 1.23.

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 analysts' consensus estimates 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 in the prior year, the company posted $5.33 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal 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 given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.36%. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms's dividend payout ratio is presently 8.78%.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 5,060 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 value of $3,727,550.20. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher K. Cox sold 20,000 shares of the company's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the transaction, the insider now owns 308,686 shares of the company's stock, valued at $209,199,589.06. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 583,505 shares of company stock valued at $385,495,911. Insiders own 13.71% of the company's stock.

Meta Platforms 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.