PARUS FINANCE UK Ltd Sells 2,836 Shares of Meta Platforms, Inc. (NASDAQ:META)

PARUS FINANCE UK Ltd lowered its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,819 shares of the social networking company's stock after selling 2,836 shares during the period. Meta Platforms comprises about 11.9% of PARUS FINANCE UK Ltd's investment portfolio, making the stock its 2nd biggest holding. PARUS FINANCE UK Ltd's holdings in Meta Platforms were worth $37,952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of META. JDM Financial Group LLC acquired a new position in Meta Platforms during the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms in the 3rd quarter worth approximately $36,000. Millstone Evans Group LLC bought a new stake in Meta Platforms during the 4th quarter valued at $40,000. Avondale Wealth Management bought a new position in shares of Meta Platforms in the fourth quarter worth $41,000. Finally, WealthTrak Capital Management LLC acquired a new position in shares of Meta Platforms during the fourth quarter valued at $43,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of the business'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 $3,466,769.02. Following the transaction, the chief operating officer now owns 20,935 shares of the company's stock, valued at approximately $15,422,186.45. The trade was a 18.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 8,553 shares of the stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the sale, the chief financial officer now owns 51,793 shares in the company, valued at $38,154,349.31. The trade was a 14.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 584,410 shares of company stock worth $386,031,454. Insiders own 13.71% of the company's stock.

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Meta Platforms Price Performance

Shares of META traded down $0.38 during mid-day trading on Monday, reaching $576.36. The company had a trading volume of 20,419,137 shares, compared to its average volume of 14,265,663. 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 capitalization of $1.46 trillion, a P/E ratio of 24.10, a P/E/G ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The company's 50-day moving average is $655.23 and its 200-day moving average is $609.90.

Meta Platforms (NASDAQ:META - Get Free Report) last issued 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 firm earned $5.33 earnings per share. On average, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.36%. 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. Meta Platforms's dividend payout ratio is currently 8.78%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on META shares. Jefferies Financial Group decreased their target price on shares of Meta Platforms from $810.00 to $725.00 and set a "buy" rating for the company in a research report on Monday. Cantor Fitzgerald upped their target price on Meta Platforms from $720.00 to $790.00 and gave the stock an "overweight" rating in a research report on Thursday, January 30th. Royal Bank of Canada boosted their price objective on Meta Platforms from $700.00 to $800.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Robert W. Baird boosted their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Oppenheimer lifted their price objective on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an "outperform" rating in a research note on Thursday, January 30th. Two 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target 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.