Andra AP fonden Trims Position in Meta Platforms, Inc. (NASDAQ:META)

Andra AP fonden trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 32.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,400 shares of the social networking company’s stock after selling 55,900 shares during the quarter. Meta Platforms makes up 1.1% of Andra AP fonden’s portfolio, making the stock its 5th biggest position. Andra AP fonden’s holdings in Meta Platforms were worth $67,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in META. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms during the third quarter worth $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the third quarter worth $36,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the fourth quarter worth $41,000. Cordant Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter worth $59,000. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Meta Platforms during the third quarter worth $70,000. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on META shares. Rosenblatt Securities reissued a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a report on Monday, January 27th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Monday, January 27th. Jefferies Financial Group increased their price objective on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Susquehanna increased their price objective on shares of Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a report on Thursday, January 30th. Finally, Oppenheimer increased their price objective on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $719.26.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 608 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $609.00, for a total value of $370,272.00. Following the completion of the sale, the chief operating officer now directly owns 8,054 shares in the company, valued at approximately $4,904,886. The trade was a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $644.00, for a total transaction of $593,124.00. Following the completion of the sale, the insider now owns 33,945 shares of the company’s stock, valued at $21,860,580. The trade was a 2.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 725,689 shares of company stock worth $473,072,897 over the last ninety days. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

Shares of META opened at $619.56 on Thursday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market capitalization of $1.57 trillion, a PE ratio of 25.90, a PEG ratio of 1.42 and a beta of 1.23. The company’s 50 day moving average price is $658.13 and its 200 day moving average price is $602.08. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period in the previous year, the firm earned $5.33 earnings per share. Research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.34%. Meta Platforms’s payout ratio is 8.78%.

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.