Pictet Asset Management Holding SA lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,964,656 shares of the social networking company's stock after selling 14,877 shares during the period. Meta Platforms accounts for 1.2% of Pictet Asset Management Holding SA's portfolio, making the stock its 10th largest position. Pictet Asset Management Holding SA owned 0.08% of Meta Platforms worth $1,150,326,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in META. Seelaus Asset Management LLC boosted its holdings in Meta Platforms by 0.9% during the fourth quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after purchasing an additional 15 shares during the last quarter. Meredith Wealth Planning lifted its position in shares of Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company's stock worth $1,097,000 after buying an additional 15 shares in the last quarter. Maiden Cove Capital LLC boosted its stake in shares of Meta Platforms by 3.2% in the 4th quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company's stock worth $282,000 after buying an additional 15 shares during the last quarter. Stephens Consulting LLC grew its holdings in shares of Meta Platforms by 5.3% in the fourth quarter. Stephens Consulting LLC now owns 317 shares of the social networking company's stock valued at $186,000 after acquiring an additional 16 shares in the last quarter. Finally, VeraBank N.A. increased its position in shares of Meta Platforms by 0.8% during the fourth quarter. VeraBank N.A. now owns 1,954 shares of the social networking company's stock valued at $1,144,000 after acquiring an additional 16 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.
Meta Platforms Trading Down 0.2 %
Meta Platforms stock traded down $1.19 during trading hours on Monday, reaching $575.55. The stock had a trading volume of 13,962,282 shares, compared to its average volume of 14,238,629. The company has a fifty day simple moving average of $655.23 and a 200-day simple moving average of $609.90. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The stock has a market cap of $1.46 trillion, a PE ratio of 24.06, a PEG ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping 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 in the previous year, the firm earned $5.33 EPS. Analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend 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 dividend payout ratio is currently 8.78%.
Insider Activity at Meta Platforms
In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $603.98, for a total value of $21,695,565.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Susan J. Li sold 8,553 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 51,793 shares in the company, valued at $38,154,349.31. This trade represents a 14.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 584,410 shares of company stock worth $386,031,454 over the last quarter. Corporate insiders own 13.71% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on META shares. Robert W. Baird increased their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, January 30th. Oppenheimer boosted their price objective on shares of Meta Platforms from $650.00 to $800.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. The Goldman Sachs Group increased their target price on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a "buy" rating in a research note on Thursday, January 30th. Barclays raised their price target on shares of Meta Platforms from $630.00 to $705.00 and gave the company an "overweight" rating in a report on Thursday, January 30th. Finally, Tigress Financial reaffirmed a "strong-buy" rating on shares of Meta Platforms in a report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $718.55.
View Our Latest Analysis on Meta Platforms
Meta Platforms Company Profile
(
Free Report)
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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