Meta Platforms, Inc. (NASDAQ:META) Shares Sold by QCM Cayman Ltd.

QCM Cayman Ltd. lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 58.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 681 shares of the social networking company’s stock after selling 960 shares during the quarter. Meta Platforms comprises about 13.0% of QCM Cayman Ltd.’s investment portfolio, making the stock its 4th largest position. QCM Cayman Ltd.’s holdings in Meta Platforms were worth $241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Linden Thomas Advisory Services LLC boosted its position in shares of Meta Platforms by 21.5% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 13,548 shares of the social networking company’s stock worth $4,795,000 after buying an additional 2,397 shares during the period. Masso Torrence Wealth Management Inc. boosted its position in Meta Platforms by 4.0% during the fourth quarter. Masso Torrence Wealth Management Inc. now owns 1,230 shares of the social networking company’s stock valued at $435,000 after purchasing an additional 47 shares during the last quarter. Community Bank & Trust Waco Texas acquired a new stake in Meta Platforms during the fourth quarter valued at $332,000. Parkside Financial Bank & Trust boosted its position in Meta Platforms by 13.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 5,344 shares of the social networking company’s stock valued at $1,892,000 after purchasing an additional 628 shares during the last quarter. Finally, SlateStone Wealth LLC boosted its position in Meta Platforms by 34.9% during the fourth quarter. SlateStone Wealth LLC now owns 3,244 shares of the social networking company’s stock valued at $1,148,000 after purchasing an additional 839 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Guggenheim lifted their price objective on Meta Platforms from $380.00 to $520.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Morgan Stanley boosted their price target on Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. The Goldman Sachs Group boosted their price target on Meta Platforms from $500.00 to $555.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Canaccord Genuity Group boosted their price target on Meta Platforms from $580.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Finally, Raymond James boosted their price target on Meta Platforms from $450.00 to $550.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $520.28.

Meta Platforms Price Performance

Shares of NASDAQ:META traded up $14.37 during trading on Tuesday, reaching $496.10. The company had a trading volume of 14,926,181 shares, compared to its average volume of 17,131,002. The company has a fifty day moving average of $494.81 and a two-hundred day moving average of $401.23. The stock has a market capitalization of $1.26 trillion, a P/E ratio of 33.10, a price-to-earnings-growth ratio of 1.22 and a beta of 1.20. Meta Platforms, Inc. has a 12 month low of $207.13 and a 12 month high of $531.49. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, topping analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The firm had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. During the same quarter in the prior year, the firm earned $3.00 EPS. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. Equities research analysts forecast that Meta Platforms, Inc. will post 20.18 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is currently 13.42%.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the transaction, the insider now owns 38,398 shares of the company’s stock, valued at approximately $20,043,756. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $392.36, for a total value of $7,722,037.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the sale, the insider now directly owns 38,398 shares in the company, valued at approximately $20,043,756. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,391,935 shares of company stock valued at $666,288,408. Insiders own 14.03% of the company’s stock.

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.