Meta Platforms, Inc. (NASDAQ:META) is Securian Asset Management Inc.’s 7th Largest Position

Securian Asset Management Inc. lowered its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,166 shares of the social networking company’s stock after selling 3,668 shares during the period. Meta Platforms makes up 2.0% of Securian Asset Management Inc.’s holdings, making the stock its 7th biggest holding. Securian Asset Management Inc.’s holdings in Meta Platforms were worth $68,602,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Forge First Asset Management Inc. grew its stake in shares of Meta Platforms by 43.3% in the fourth quarter. Forge First Asset Management Inc. now owns 21,070 shares of the social networking company’s stock worth $12,338,000 after acquiring an additional 6,370 shares in the last quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co acquired a new position in Meta Platforms during the 4th quarter worth $4,857,000. Hopwood Financial Services Inc. purchased a new stake in Meta Platforms during the 4th quarter worth about $76,000. Farther Finance Advisors LLC raised its position in Meta Platforms by 9.4% in the 4th quarter. Farther Finance Advisors LLC now owns 22,703 shares of the social networking company’s stock valued at $13,293,000 after purchasing an additional 1,950 shares in the last quarter. Finally, Parkworth Wealth Management Inc. acquired a new stake in Meta Platforms in the 4th quarter valued at about $79,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 22,035 shares of Meta Platforms stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $618.63, for a total transaction of $13,631,512.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $626.66, for a total transaction of $567,127.30. Following the completion of the sale, the insider now directly owns 34,725 shares in the company, valued at approximately $21,760,768.50. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 654,355 shares of company stock valued at $428,564,164. 13.71% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $607.60 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 25.40, a PEG ratio of 1.42 and a beta of 1.23. The company’s fifty day moving average is $658.01 and its two-hundred day moving average is $603.80.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping 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 quarter in the prior year, the company earned $5.33 EPS. Analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a $0.525 dividend. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is presently 8.78%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on META shares. DA Davidson upped their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Royal Bank of Canada raised their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Benchmark upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and set a $820.00 target price for the company in a research note on Thursday, January 30th. Argus set a $775.00 price target on Meta Platforms in a research note on Tuesday, February 4th. Finally, BMO Capital Markets increased their price objective on Meta Platforms from $530.00 to $610.00 and gave the company a “market perform” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $719.26.

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.