OneDigital Investment Advisors LLC Reduces Stake in Meta Platforms, Inc. (NASDAQ:META)

OneDigital Investment Advisors LLC cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 18.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,156 shares of the social networking company's stock after selling 8,187 shares during the period. OneDigital Investment Advisors LLC's holdings in Meta Platforms were worth $20,584,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ballentine Partners LLC raised its stake in shares of Meta Platforms by 1.4% during the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock worth $34,087,000 after purchasing an additional 808 shares during the period. UMB Bank n.a. raised its position in Meta Platforms by 0.6% in the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock worth $82,314,000 after acquiring an additional 897 shares during the period. Brueske Advisory Services LLC purchased a new position in Meta Platforms in the fourth quarter valued at about $459,000. Apollon Financial LLC grew its position in shares of Meta Platforms by 11.1% during the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company's stock valued at $866,000 after acquiring an additional 148 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Meta Platforms by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock worth $3,908,382,000 after purchasing an additional 110,040 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on META. Citigroup reduced their price objective on Meta Platforms from $780.00 to $655.00 and set a "buy" rating for the company in a report on Monday, April 14th. Argus set a $775.00 price target on Meta Platforms in a research note on Tuesday, February 4th. UBS Group lowered their price objective on Meta Platforms from $786.00 to $650.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Jefferies Financial Group cut their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Finally, Morgan Stanley cut their price objective on shares of Meta Platforms from $660.00 to $615.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $676.55.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 921 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $531.22, for a total transaction of $489,253.62. Following the sale, the insider now directly owns 28,419 shares of the company's stock, valued at $15,096,741.18. This trade represents a 3.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 406 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $491.69, for a total transaction of $199,626.14. Following the sale, the chief operating officer now directly owns 4,608 shares in the company, valued at approximately $2,265,707.52. The trade was a 8.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 343,068 shares of company stock valued at $237,676,335. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 2.5 %

Shares of NASDAQ META traded up $12.88 on Thursday, reaching $533.15. 13,724,832 shares of the company's stock traded hands, compared to its average volume of 14,802,200. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The business's 50 day simple moving average is $594.44 and its two-hundred day simple moving average is $605.11. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a market cap of $1.35 trillion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were paid a $0.525 dividend. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.39%. Meta Platforms's payout ratio is presently 8.78%.

Meta Platforms Company 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.