Accent Capital Management LLC Cuts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Accent Capital Management LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,422 shares of the social networking company's stock after selling 536 shares during the quarter. Meta Platforms accounts for 6.2% of Accent Capital Management LLC's portfolio, making the stock its 6th biggest holding. Accent Capital Management LLC's holdings in Meta Platforms were worth $10,786,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JDM Financial Group LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC purchased a new stake in Meta Platforms during the third quarter worth $36,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms in the fourth quarter valued at $40,000. Avondale Wealth Management acquired a new stake in Meta Platforms in the fourth quarter valued at $41,000. Finally, WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the firm's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $603.98, for a total value of $21,695,565.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the company's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $627.05, for a total transaction of $577,513.05. Following the transaction, the insider now owns 31,182 shares of the company's stock, valued at $19,552,673.10. This represents a 2.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 584,410 shares of company stock worth $386,031,454 over the last 90 days. Insiders own 13.71% of the company's stock.

Remove Ads

Meta Platforms Stock Down 0.1 %

META traded down $0.38 during trading on Monday, hitting $576.36. The company had a trading volume of 20,419,137 shares, compared to its average volume of 16,234,180. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The company has a market cap of $1.46 trillion, a PE ratio of 24.10, a P/E/G ratio of 1.42 and a beta of 1.23. The business has a 50-day moving average of $655.23 and a 200-day moving average of $609.90.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating 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 period last year, the company earned $5.33 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup increased their price objective on shares of Meta Platforms from $753.00 to $780.00 and gave the company a "buy" rating in a research note on Thursday, January 30th. JMP Securities reiterated a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a research report on Monday, January 27th. Bank of America lifted their price objective on Meta Platforms from $710.00 to $765.00 and gave the stock a "buy" rating in a research report on Thursday, January 30th. Wedbush reiterated an "outperform" rating and set a $770.00 target price (up previously from $700.00) on shares of Meta Platforms in a report on Thursday, January 30th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $811.00 price target on shares of Meta Platforms in a report on Monday, January 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average 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.