Encompass More Asset Management decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 25.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,545 shares of the social networking company’s stock after selling 532 shares during the quarter. Encompass More Asset Management’s holdings in Meta Platforms were worth $905,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC grew its holdings in Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after buying an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC increased its position in shares of Meta Platforms by 4,658.5% during the third 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. Geode Capital Management LLC lifted its holdings in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after buying an additional 698,884 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Meta Platforms by 926.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after acquiring an additional 661,923 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $567.58, for a total transaction of $234,410.54. Following the completion of the sale, the chief operating officer now owns 10,294 shares in the company, valued at approximately $5,842,668.52. This trade represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $644.76, for a total value of $23,160,423.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 603,032 shares of company stock valued at $368,666,614. 13.71% of the stock is owned by corporate insiders.
Meta Platforms Trading Up 1.9 %
Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Equities analysts predict that Meta Platforms, Inc. will post 22.96 EPS for the current year.
Meta Platforms Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Monday. JMP Securities restated a “market outperform” rating and set a $750.00 target price on shares of Meta Platforms in a research report on Monday. Wells Fargo & Company raised their price target on Meta Platforms from $641.00 to $685.00 and gave the company an “overweight” rating in a report on Monday, January 13th. UBS Group boosted their price objective on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Monness Crespi & Hardt raised their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $654.20.
View Our Latest Report on META
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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