Voyager Global Management LP grew its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 37.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 515,000 shares of the social networking company’s stock after purchasing an additional 140,000 shares during the quarter. Meta Platforms accounts for 8.7% of Voyager Global Management LP’s portfolio, making the stock its 7th largest position. Voyager Global Management LP’s holdings in Meta Platforms were worth $182,289,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in shares of Meta Platforms by 1.5% during the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after buying an additional 51,900 shares in the last quarter. Donoghue Forlines LLC grew its holdings in shares of Meta Platforms by 94.4% during the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after buying an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after purchasing an additional 32,423 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. boosted its position in Meta Platforms by 400.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock valued at $885,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Bank of Stockton boosted its position in Meta Platforms by 9.2% during the fourth quarter. Bank of Stockton now owns 4,743 shares of the social networking company’s stock valued at $1,819,000 after purchasing an additional 400 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
META has been the subject of a number of research reports. UBS Group reduced their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Wells Fargo & Company reduced their price objective on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. Stifel Nicolaus boosted their price target on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Monday, April 22nd. Finally, Roth Mkm boosted their price target on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $510.41.
Read Our Latest Research Report on Meta Platforms
Insider Buying and Selling
In related news, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares in the company, valued at $15,794,965.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the transaction, the director now owns 630,293 shares in the company, valued at $300,466,976.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the transaction, the insider now owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 573,397 shares of company stock worth $282,152,645. 13.71% of the stock is owned by insiders.
Meta Platforms Stock Performance
META stock traded up $2.32 during midday trading on Monday, reaching $495.28. 2,431,467 shares of the company’s stock traded hands, compared to its average volume of 16,833,336. Meta Platforms, Inc. has a 52-week low of $265.33 and a 52-week high of $531.49. The stock has a market cap of $1.26 trillion, a P/E ratio of 28.29, a PEG ratio of 1.28 and a beta of 1.21. 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’s 50-day moving average is $480.52 and its 200 day moving average is $437.11.
Meta Platforms (NASDAQ:META – Get Free Report) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, analysts anticipate that Meta Platforms, Inc. will post 20.16 EPS for the current year.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.40%. Meta Platforms’s dividend payout ratio is 11.49%.
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.
Further Reading
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