Parthenon LLC lessened its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 0.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 79,108 shares of the social networking company’s stock after selling 278 shares during the period. Meta Platforms makes up about 3.9% of Parthenon LLC’s holdings, making the stock its 4th largest position. Parthenon LLC’s holdings in Meta Platforms were worth $28,001,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of META. FMR LLC grew its holdings in Meta Platforms by 4.0% during the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after buying an additional 5,001,647 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Meta Platforms by 11,154.4% in the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after acquiring an additional 4,908,251 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Meta Platforms by 55.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company’s stock valued at $2,591,602,000 after acquiring an additional 3,093,715 shares during the last quarter. Cerity Partners LLC lifted its holdings in Meta Platforms by 1,457.5% during the fourth quarter. Cerity Partners LLC now owns 3,156,360 shares of the social networking company’s stock worth $1,117,225,000 after acquiring an additional 2,953,704 shares during the period. Finally, Lone Pine Capital LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at $834,315,000. Institutional investors own 79.91% of the company’s stock.
Insiders Place Their Bets
In other news, CTO Andrew Bosworth sold 8,036 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the transaction, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the transaction, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total value of $287,381.25. Following the transaction, the insider now owns 37,228 shares of the company’s stock, valued at approximately $18,288,255. The disclosure for this sale can be found here. Insiders have sold a total of 1,276,482 shares of company stock valued at $620,451,095 in the last quarter. Insiders own 13.71% of the company’s stock.
Meta Platforms Trading Down 0.6 %
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 20.2 EPS for the current fiscal year.
Meta Platforms Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.
Analysts Set New Price Targets
A number of brokerages recently weighed in on META. Raymond James cut their price target on shares of Meta Platforms from $550.00 to $525.00 and set a “strong-buy” rating on the stock in a report on Thursday, April 25th. Truist Financial decreased their price target on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Stifel Nicolaus upped their price objective on Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Susquehanna increased their price objective on Meta Platforms from $400.00 to $550.00 and gave the company a “positive” rating in a report on Friday, February 2nd. Finally, Wells Fargo & Company lowered their target price on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $509.18.
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.
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