By otakuyassine3@gmail.com 
DT Investment Partners LLC cut its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 15.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,141 shares of the social networking company’s stock after selling 388 shares during the period. DT Investment Partners LLC’s holdings in Meta Platforms were worth $1,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. CFC Planning Co LLC acquired a new position in Meta Platforms in the 4th quarter valued at $549,000. First Merchants Corp raised its holdings in Meta Platforms by 3.5% in the 4th quarter. First Merchants Corp now owns 16,825 shares of the social networking company’s stock valued at $9,851,000 after acquiring an additional 576 shares in the last quarter. Palacios Wealth Management LLC acquired a new position in Meta Platforms in the 4th quarter valued at $3,085,000. Arcus Capital Partners LLC raised its holdings in Meta Platforms by 6.9% in the 4th quarter. Arcus Capital Partners LLC now owns 2,660 shares of the social networking company’s stock valued at $1,557,000 after acquiring an additional 171 shares in the last quarter. Finally, Root Financial Partners LLC raised its holdings in Meta Platforms by 15.1% in the 4th quarter. Root Financial Partners LLC now owns 5,237 shares of the social networking company’s stock valued at $3,066,000 after acquiring an additional 688 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.
Insider Transactions at Meta Platforms
In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $565.30, for a total transaction of $511,596.50. Following the completion of the sale, the insider now directly owns 37,790 shares of the company’s stock, valued at approximately $21,362,687. This trade represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $562.77, for a total value of $232,424.01. Following the sale, the chief operating officer now directly owns 19,579 shares of the company’s stock, valued at $11,018,473.83. The trade was a 2.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 810,217 shares of company stock valued at $523,808,864 over the last ninety days. 13.71% of the stock is currently owned by insiders.
Meta Platforms Stock Down 1.3 %
Shares of Meta Platforms stock opened at $694.84 on Friday. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock’s 50-day moving average is $645.83 and its 200 day moving average is $589.12. The firm has a market cap of $1.76 trillion, a price-to-earnings ratio of 29.05, a PEG ratio of 1.47 and a beta of 1.20.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the company posted $5.33 EPS. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.66 EPS for the current year.
Meta Platforms Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a $0.525 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms’s dividend payout ratio is 8.36%.
Analyst Ratings Changes
Several brokerages have weighed in on META. KeyCorp lifted their price objective on Meta Platforms from $700.00 to $750.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Tigress Financial lifted their price objective on Meta Platforms from $645.00 to $935.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 11th. Wolfe Research lifted their price objective on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Benchmark raised Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 price target for the company in a report on Thursday, January 30th. Finally, Mizuho boosted their price target on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $717.90.
View Our Latest Report on META
About Meta Platforms
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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