Tealwood Asset Management Inc. Sells 1,574 Shares of Meta Platforms, Inc. (NASDAQ:META)

Tealwood Asset Management Inc. lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 16.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,168 shares of the social networking company’s stock after selling 1,574 shares during the quarter. Meta Platforms accounts for about 1.8% of Tealwood Asset Management Inc.’s holdings, making the stock its 3rd largest position. Tealwood Asset Management Inc.’s holdings in Meta Platforms were worth $3,966,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in META. Vanguard Group Inc. grew its position in Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares in the last quarter. Capital World Investors increased its stake in shares of Meta Platforms by 2.5% in the fourth quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock worth $13,469,906,000 after purchasing an additional 927,491 shares during the period. Morgan Stanley lifted its position in shares of Meta Platforms by 3.4% during the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after purchasing an additional 1,184,978 shares during the last quarter. Capital International Investors boosted its stake in Meta Platforms by 3.2% during the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after purchasing an additional 1,083,719 shares during the period. Finally, Norges Bank acquired a new stake in Meta Platforms in the 4th quarter valued at approximately $11,285,855,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $505.29, for a total value of $295,594.65. Following the transaction, the insider now owns 39,568 shares of the company’s stock, valued at $19,993,314.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Mark Zuckerberg sold 77,412 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $504.82, for a total value of $39,079,125.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $505.29, for a total transaction of $295,594.65. Following the completion of the transaction, the insider now owns 39,568 shares in the company, valued at $19,993,314.72. The disclosure for this sale can be found here. Insiders have sold 313,169 shares of company stock valued at $153,344,736 in the last 90 days. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Sanford C. Bernstein reduced their price objective on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Barclays reduced their price target on shares of Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a report on Thursday, April 25th. Rosenblatt Securities increased their price target on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Royal Bank of Canada reduced their price target on shares of Meta Platforms from $600.00 to $570.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Finally, The Goldman Sachs Group reduced their price target on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $510.05.

Meta Platforms Trading Down 1.4 %

META opened at $494.78 on Friday. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $531.49. The firm has a 50-day moving average price of $478.61 and a two-hundred day moving average price of $448.41. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.26 trillion, a PE ratio of 28.42, a PEG ratio of 1.30 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The company had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 20.16 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

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.