SCS Capital Management LLC Sells 1,662 Shares of Meta Platforms, Inc. (NASDAQ:META)

SCS Capital Management LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,657 shares of the social networking company's stock after selling 1,662 shares during the quarter. SCS Capital Management LLC's holdings in Meta Platforms were worth $20,292,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Virtus ETF Advisers LLC raised its holdings in Meta Platforms by 4.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 1,989 shares of the social networking company's stock worth $1,165,000 after purchasing an additional 88 shares in the last quarter. Coldstream Capital Management Inc. increased its position in shares of Meta Platforms by 1.9% during the 4th quarter. Coldstream Capital Management Inc. now owns 65,716 shares of the social networking company's stock valued at $38,477,000 after purchasing an additional 1,216 shares during the period. UP Strategic Wealth Investment Advisors LLC raised its stake in shares of Meta Platforms by 64.8% in the 4th quarter. UP Strategic Wealth Investment Advisors LLC now owns 1,579 shares of the social networking company's stock worth $925,000 after buying an additional 621 shares in the last quarter. Three Seasons Wealth LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $725,000. Finally, Voya Financial Advisors Inc. lifted its holdings in shares of Meta Platforms by 5.0% in the fourth quarter. Voya Financial Advisors Inc. now owns 9,214 shares of the social networking company's stock valued at $5,448,000 after buying an additional 441 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on META shares. Royal Bank of Canada boosted their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Wolfe Research upped their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Jefferies Financial Group dropped their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. KeyCorp reduced their target price on Meta Platforms from $710.00 to $645.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, Wedbush lowered their price target on Meta Platforms from $770.00 to $680.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $679.02.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $491.87, for a total value of $453,012.27. Following the completion of the sale, the insider now owns 27,498 shares in the company, valued at approximately $13,525,441.26. This trade represents a 3.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 406 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $491.69, for a total value of $199,626.14. Following the sale, the chief operating officer now owns 4,608 shares in the company, valued at approximately $2,265,707.52. This represents a 8.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 308,068 shares of company stock worth $214,968,924. Company insiders own 13.71% of the company's stock.

Meta Platforms Stock Performance

Shares of META stock traded up $14.12 during trading hours on Friday, reaching $547.27. 17,064,639 shares of the company's stock were exchanged, compared to its average volume of 14,374,342. Meta Platforms, Inc. has a fifty-two week low of $427.11 and a fifty-two week high of $740.91. 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 stock has a market capitalization of $1.39 trillion, a P/E ratio of 22.88, a P/E/G ratio of 1.42 and a beta of 1.28. The business has a fifty day moving average price of $587.00 and a 200-day moving average price of $604.68.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same quarter last year, the company earned $5.33 EPS. Analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio (DPR) 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.