Rhumbline Advisers trimmed its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,246,608 shares of the social networking company's stock after selling 64,459 shares during the period. Meta Platforms comprises approximately 2.2% of Rhumbline Advisers' investment portfolio, making the stock its 5th biggest position. Rhumbline Advisers owned approximately 0.17% of Meta Platforms worth $2,486,431,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Seelaus Asset Management LLC lifted its holdings in shares of Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company's stock worth $960,000 after acquiring an additional 15 shares during the last quarter. Stephens Consulting LLC lifted its holdings in shares of Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company's stock worth $186,000 after acquiring an additional 16 shares during the last quarter. Lindenwold Advisors INC lifted its stake in Meta Platforms by 0.3% in the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company's stock worth $3,388,000 after purchasing an additional 17 shares during the last quarter. Insight Wealth Strategies LLC lifted its stake in Meta Platforms by 1.6% in the fourth quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company's stock worth $625,000 after purchasing an additional 17 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. lifted its stake in Meta Platforms by 0.6% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company's stock worth $1,569,000 after purchasing an additional 17 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the company's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Javier Olivan sold 4,706 shares of the stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,466,769.02. Following the completion of the sale, the chief operating officer now owns 20,935 shares of the company's stock, valued at approximately $15,422,186.45. This trade represents a 18.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 810,217 shares of company stock worth $523,808,864. 13.71% of the stock is owned by company insiders.
Meta Platforms Price Performance
META traded down $11.22 during trading on Friday, reaching $683.62. 15,609,265 shares of the stock were exchanged, compared to its average volume of 15,750,735. The business's 50 day moving average price is $645.83 and its two-hundred day moving average price is $589.12. 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 $1.73 trillion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 1.44 and a beta of 1.20. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91.
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 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 prior year, the company earned $5.33 EPS. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.
Meta Platforms Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be given a dividend of $0.525 per share. The ex-dividend date is Friday, March 14th. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.31%. Meta Platforms's dividend payout ratio is 8.36%.
Wall Street Analyst Weigh In
META has been the subject of several recent research reports. Roth Mkm boosted their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Monness Crespi & Hardt boosted their price target on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Hsbc Global Res raised shares of Meta Platforms to a "hold" rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 18th. Finally, Tigress Financial boosted their price target on shares of Meta Platforms from $645.00 to $935.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, February 11th. Two investment 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $717.90.
Read Our Latest Stock Report on Meta Platforms
Meta Platforms 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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