Clal Insurance Enterprises Holdings Ltd Sells 53,000 Shares of Meta Platforms, Inc. (NASDAQ:META)

Clal Insurance Enterprises Holdings Ltd trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 730,152 shares of the social networking company's stock after selling 53,000 shares during the period. Meta Platforms makes up about 3.4% of Clal Insurance Enterprises Holdings Ltd's holdings, making the stock its 9th biggest position. Clal Insurance Enterprises Holdings Ltd's holdings in Meta Platforms were worth $258,445,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of META. Addison Advisors LLC boosted its stake in shares of Meta Platforms by 3.9% in the fourth quarter. Addison Advisors LLC now owns 670 shares of the social networking company's stock valued at $237,000 after buying an additional 25 shares during the period. Smithfield Trust Co raised its position in Meta Platforms by 0.5% during the fourth quarter. Smithfield Trust Co now owns 4,895 shares of the social networking company's stock valued at $1,730,000 after purchasing an additional 25 shares in the last quarter. American National Bank raised its position in Meta Platforms by 1.6% during the fourth quarter. American National Bank now owns 1,590 shares of the social networking company's stock valued at $563,000 after purchasing an additional 25 shares in the last quarter. WoodTrust Financial Corp raised its position in Meta Platforms by 1.8% during the fourth quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company's stock valued at $548,000 after purchasing an additional 27 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners raised its position in Meta Platforms by 0.6% during the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company's stock valued at $1,616,000 after purchasing an additional 27 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have commented on the stock. Tigress Financial boosted their price objective on shares of Meta Platforms from $435.00 to $575.00 and gave the company a "strong-buy" rating in a research report on Friday, February 9th. Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $527.00 to $588.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. Roth Mkm boosted their price objective on shares of Meta Platforms from $500.00 to $510.00 and gave the company a "buy" rating in a research report on Thursday, April 25th. Wedbush lowered their price target on shares of Meta Platforms from $570.00 to $480.00 and set an "outperform" rating for the company in a report on Thursday, April 25th. Finally, Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has a consensus rating of "Moderate Buy" and a consensus price target of $510.41.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,058 shares of the firm's stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the sale, the chief technology officer now owns 15,412 shares in the company, valued at approximately $7,272,152.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Javier Olivan sold 490 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $488.25, for a total value of $239,242.50. Following the completion of the transaction, the chief operating officer now directly owns 9,539 shares of the company's stock, valued at approximately $4,657,416.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 5,058 shares of the firm's stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the transaction, the chief technology officer now directly owns 15,412 shares of the company's stock, valued at $7,272,152.20. The disclosure for this sale can be found here. Insiders sold a total of 604,890 shares of company stock worth $297,429,900 in the last quarter. Insiders own 13.71% of the company's stock.

Meta Platforms Stock Down 0.2 %

NASDAQ:META traded down $0.80 on Friday, hitting $492.96. The stock had a trading volume of 9,372,009 shares, compared to its average volume of 16,963,775. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market cap of $1.25 trillion, a P/E ratio of 28.31, a price-to-earnings-growth ratio of 1.28 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $258.88 and a 1 year high of $531.49. The firm's fifty day simple moving average is $480.52 and its two-hundred day simple moving average is $435.75.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. Analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.41%. Meta Platforms's payout ratio is currently 11.49%.

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.

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