New York Life Investment Management LLC Decreases Stake in Meta Platforms, Inc. (NASDAQ:META)

New York Life Investment Management LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.9% in the fourth quarter, Holdings Channel reports. The firm owned 317,066 shares of the social networking company’s stock after selling 2,868 shares during the period. Meta Platforms makes up about 1.2% of New York Life Investment Management LLC’s investment portfolio, making the stock its 16th biggest position. New York Life Investment Management LLC’s holdings in Meta Platforms were worth $112,229,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of META. Addison Advisors LLC raised its stake in Meta Platforms by 3.9% in the fourth quarter. Addison Advisors LLC now owns 670 shares of the social networking company’s stock valued at $237,000 after buying an additional 25 shares during the period. WoodTrust Financial Corp raised its stake in Meta Platforms by 1.8% in the fourth quarter. WoodTrust Financial Corp now owns 1,547 shares of the social networking company’s stock valued at $548,000 after buying an additional 27 shares during the period. Tennessee Valley Asset Management Partners grew its position in shares of Meta Platforms by 0.6% in the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock valued at $1,616,000 after purchasing an additional 27 shares during the last quarter. Peterson Wealth Advisors LLC grew its position in shares of Meta Platforms by 1.9% in the fourth quarter. Peterson Wealth Advisors LLC now owns 1,468 shares of the social networking company’s stock valued at $520,000 after purchasing an additional 28 shares during the last quarter. Finally, Edge Wealth Management LLC grew its position in shares of Meta Platforms by 4.0% in the fourth quarter. Edge Wealth Management LLC now owns 730 shares of the social networking company’s stock valued at $258,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 2.1 %

Shares of META traded up $9.02 on Wednesday, hitting $439.19. 20,287,668 shares of the stock traded hands, compared to its average volume of 18,452,576. The company has a market capitalization of $1.12 trillion, a PE ratio of 25.36, a P/E/G ratio of 1.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.68. The business has a 50 day simple moving average of $492.83 and a 200 day simple moving average of $406.97. Meta Platforms, Inc. has a one year low of $229.85 and a one year high of $531.49.

Meta Platforms (NASDAQ:META) last posted its 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. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.17 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s payout ratio is currently 11.49%.

Analyst Ratings Changes

Several equities analysts have recently commented on META shares. Roth Mkm upped their target price on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Oppenheimer reduced their price target on Meta Platforms from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Robert W. Baird reduced their price target on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Finally, UBS Group cut their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. One equities research 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $513.55.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $441.54, for a total transaction of $216,354.60. Following the transaction, the chief operating officer now directly owns 6,599 shares in the company, valued at approximately $2,913,722.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Mark Zuckerberg sold 97,093 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $469.67, for a total value of $45,601,669.31. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $441.54, for a total transaction of $216,354.60. Following the sale, the chief operating officer now owns 6,599 shares of the company’s stock, valued at $2,913,722.46. The disclosure for this sale can be found here. Insiders have sold a total of 1,257,291 shares of company stock worth $612,916,087 in the last three months. Insiders own 13.71% of the company’s stock.

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.