Zweig DiMenna Associates LLC Sells 190 Shares of Meta Platforms, Inc. (NASDAQ:META)

Zweig DiMenna Associates LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 68,512 shares of the social networking company’s stock after selling 190 shares during the quarter. Meta Platforms comprises about 3.0% of Zweig DiMenna Associates LLC’s holdings, making the stock its 5th biggest position. Zweig DiMenna Associates LLC’s holdings in Meta Platforms were worth $40,114,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of META. International Assets Investment Management LLC raised its stake in 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 worth $5,447,975,000 after buying an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC increased its holdings in shares of 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 valued at $2,365,820,000 after acquiring an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC raised 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 worth $520,662,000 after purchasing an additional 890,434 shares during the period. Geode Capital Management LLC grew its position in Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in Meta Platforms by 926.6% in the 2nd 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 purchasing an additional 661,923 shares during the period. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on META shares. KeyCorp raised their price objective on shares of Meta Platforms from $655.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Hsbc Global Res upgraded Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Robert W. Baird increased their price objective on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Sanford C. Bernstein lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $811.00 price target on shares of Meta Platforms in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $654.20.

View Our Latest Research Report on META

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Friday, January 24th. The shares were sold at an average price of $644.76, for a total value of $23,160,423.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicholas Clegg sold 7,296 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the sale, the insider now directly owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 603,032 shares of company stock worth $368,666,614 over the last ninety days. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 1.9 %

Shares of META opened at $659.88 on Tuesday. Meta Platforms, Inc. has a twelve month low of $387.10 and a twelve month high of $663.87. The stock has a market cap of $1.67 trillion, a PE ratio of 31.08, a P/E/G ratio of 1.18 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The business’s 50-day moving average price is $604.04 and its 200-day moving average price is $561.55.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, equities analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm 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. This represents a $2.00 annualized dividend and a yield of 0.30%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is 9.42%.

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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