Asio Capital LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 0.2% during the fourth quarter, Holdings Channel reports. The firm owned 23,124 shares of the social networking company’s stock after selling 55 shares during the quarter. Meta Platforms comprises about 2.6% of Asio Capital LLC’s holdings, making the stock its 8th largest position. Asio Capital LLC’s holdings in Meta Platforms were worth $13,539,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in Meta Platforms by 57,001.5% in the third 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 buying an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC boosted its position in shares of 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 worth $2,365,820,000 after acquiring an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC increased its holdings in shares of Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after acquiring an additional 890,434 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 acquiring an additional 698,884 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted 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 worth $369,774,000 after purchasing an additional 661,923 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.
Meta Platforms Price Performance
Meta Platforms stock opened at $676.49 on Thursday. The stock has a market capitalization of $1.71 trillion, a P/E ratio of 31.86, a P/E/G ratio of 1.18 and a beta of 1.19. Meta Platforms, Inc. has a 12-month low of $387.10 and a 12-month high of $682.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm’s 50-day moving average is $608.52 and its two-hundred day moving average is $563.58.
Meta Platforms Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 38,695 shares in the company, valued at $21,416,908.60. This represents a 15.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $5,166,159.16. Following the completion of the transaction, the chief financial officer now directly owns 51,591 shares in the company, valued at $29,776,261.56. This represents a 14.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 661,312 shares of company stock worth $407,377,422 in the last 90 days. 13.71% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
META has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a report on Monday. Morgan Stanley boosted their price target on shares of Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. JMP Securities reaffirmed a “market outperform” rating and set a $750.00 price objective on shares of Meta Platforms in a report on Monday. Truist Financial upped their target price on Meta Platforms from $650.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Finally, Robert W. Baird boosted their price objective on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $655.41.
Get Our Latest Report on Meta Platforms
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.
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