TCTC Holdings LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 38.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 765 shares of the social networking company's stock after selling 482 shares during the period. TCTC Holdings LLC's holdings in Meta Platforms were worth $448,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC lifted its holdings in shares of Meta Platforms by 78,471.1% during the 4th quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company's stock worth $3,658,713,000 after acquiring an additional 6,240,810 shares during the period. Integrated Investment Consultants LLC increased its position in Meta Platforms by 61,769.3% during the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company's stock worth $2,365,820,000 after purchasing an additional 4,126,190 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Meta Platforms during the fourth quarter worth approximately $2,243,603,000. Strategic Financial Concepts LLC raised its stake in Meta Platforms by 87,269.8% during the fourth quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company's stock worth $625,125,000 after purchasing an additional 1,066,437 shares during the period. Finally, World Investment Advisors LLC grew its stake in shares of Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company's stock valued at $520,662,000 after buying an additional 890,434 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on META. JPMorgan Chase & Co. increased their target price on Meta Platforms from $660.00 to $725.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 18th. Raymond James reaffirmed a "strong-buy" rating and issued a $800.00 price objective (up from $725.00) on shares of Meta Platforms in a research note on Thursday, January 30th. Rosenblatt Securities reiterated a "buy" rating and set a $811.00 target price on shares of Meta Platforms in a report on Monday, January 27th. DA Davidson raised their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a report on Thursday, January 30th. Finally, Needham & Company LLC reiterated an "underperform" rating on shares of Meta Platforms in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $718.31.
Check Out Our Latest Stock Analysis on Meta Platforms
Meta Platforms Stock Performance
META stock traded up $23.30 during trading on Monday, hitting $619.55. 15,714,384 shares of the company's stock traded hands, compared to its average volume of 13,812,127. The stock has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The stock has a fifty day moving average price of $655.38 and a two-hundred day moving average price of $606.39. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.
Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate 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 period last year, the firm posted $5.33 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.34%. This is a boost from Meta Platforms's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms's dividend payout ratio is presently 8.78%.
Insider Buying and Selling
In other Meta Platforms news, CTO Andrew Bosworth sold 5,060 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 $3,727,550.20. Following the sale, the chief technology officer now directly owns 5,139 shares of the company's stock, valued at $3,785,747.13. This trade represents a 49.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher K. Cox sold 20,000 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $677.71, for a total transaction of $13,554,200.00. Following the transaction, the insider now directly owns 308,686 shares of the company's stock, valued at approximately $209,199,589.06. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 622,431 shares of company stock valued at $408,968,491. Insiders own 13.71% of the company's stock.
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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