Meta Platforms, Inc. (NASDAQ:META) is SRS Investment Management LLC's 4th Largest Position

SRS Investment Management LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 20.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 845,988 shares of the social networking company's stock after selling 218,567 shares during the period. Meta Platforms makes up about 7.0% of SRS Investment Management LLC's holdings, making the stock its 4th largest holding. SRS Investment Management LLC's holdings in Meta Platforms were worth $495,334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millstone Evans Group LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $40,000. Avondale Wealth Management purchased a new position in shares of Meta Platforms in the fourth quarter valued at approximately $41,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms in the fourth quarter valued at approximately $43,000. Cordant Inc. acquired a new position in shares of Meta Platforms in the fourth quarter valued at approximately $59,000. Finally, Conquis Financial LLC purchased a new stake in Meta Platforms during the 4th quarter worth approximately $59,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of NASDAQ:META traded up $14.12 during midday trading on Friday, hitting $547.27. The stock had a trading volume of 17,056,696 shares, compared to its average volume of 14,720,215. The company has a market capitalization of $1.39 trillion, a PE ratio of 22.88, a P/E/G ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91. The stock has a 50 day moving average price of $590.37 and a two-hundred day moving average price of $604.75. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last released 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 quarter in the previous year, the business posted $5.33 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were issued a $0.525 dividend. 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 0.38%. This is an increase from Meta Platforms's previous quarterly dividend of $0.50. Meta Platforms's dividend payout ratio (DPR) is 8.78%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on META shares. Guggenheim dropped their price target on shares of Meta Platforms from $750.00 to $675.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Argus set a $775.00 price target on Meta Platforms in a report on Tuesday, February 4th. Roth Capital reiterated a "buy" rating on shares of Meta Platforms in a research note on Tuesday. Benchmark decreased their price target on shares of Meta Platforms from $820.00 to $640.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Scotiabank dropped their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research report on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and a consensus price target of $676.55.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $673.57, for a total transaction of $24,195,307.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of the company's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $627.59, for a total value of $259,194.67. Following the completion of the sale, the chief operating officer now owns 15,862 shares in the company, valued at approximately $9,954,832.58. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 308,068 shares of company stock worth $214,968,924. Corporate insiders own 13.71% of the company's stock.

Meta Platforms 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.