Meta Platforms, Inc. (NASDAQ:META) is 17 Capital Partners LLC’s Largest Position

17 Capital Partners LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 43,905 shares of the social networking company’s stock after selling 20 shares during the period. Meta Platforms makes up approximately 16.3% of 17 Capital Partners LLC’s holdings, making the stock its largest holding. 17 Capital Partners LLC’s holdings in Meta Platforms were worth $25,707,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in META. International Assets Investment Management LLC grew its stake in Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC boosted its holdings in shares of Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after buying an additional 4,126,190 shares in the last quarter. Strategic Financial Concepts LLC grew its position in shares of Meta Platforms by 87,269.8% in the 4th quarter. Strategic Financial Concepts LLC now owns 1,067,659 shares of the social networking company’s stock worth $625,125,000 after buying an additional 1,066,437 shares during the period. World Investment Advisors LLC increased its stake in shares of Meta Platforms by 4,658.5% in the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after acquiring an additional 890,434 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Meta Platforms by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after acquiring an additional 698,884 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

META stock opened at $736.67 on Friday. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The firm has a market cap of $1.87 trillion, a price-to-earnings ratio of 30.80, a PEG ratio of 1.46 and a beta of 1.20. The business’s fifty day simple moving average is $638.73 and its two-hundred day simple moving average is $582.68. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, topping the consensus estimate 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 prior year, the firm posted $5.33 EPS. Analysts predict that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be issued a $0.525 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is currently 8.36%.

Wall Street Analysts Forecast Growth

META has been the topic of a number of recent research reports. KeyCorp upped their price objective on shares of Meta Platforms from $700.00 to $750.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Mizuho raised their price objective on Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Arete Research raised Meta Platforms to a “hold” rating in a report on Friday, January 24th. Royal Bank of Canada raised their price target on Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Scotiabank upped their price target on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $717.90.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $11,018,473.83. The trade was a 2.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 793,070 shares of company stock valued at $504,185,108. Company insiders own 13.71% of the company’s stock.

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.