Stage Harbor Financial LLC Has $530,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Stage Harbor Financial LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 9.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 906 shares of the social networking company’s stock after selling 92 shares during the quarter. Meta Platforms accounts for about 0.5% of Stage Harbor Financial LLC’s holdings, making the stock its 27th biggest position. Stage Harbor Financial LLC’s holdings in Meta Platforms were worth $530,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group raised its stake in shares of Meta Platforms by 12.8% during the 4th quarter. Schroder Investment Management Group now owns 4,309,806 shares of the social networking company’s stock worth $2,523,435,000 after purchasing an additional 490,577 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Meta Platforms by 27.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock worth $5,211,967,000 after buying an additional 1,892,509 shares during the last quarter. American Money Management LLC raised its position in Meta Platforms by 141.4% during the fourth quarter. American Money Management LLC now owns 11,868 shares of the social networking company’s stock valued at $6,949,000 after acquiring an additional 6,952 shares in the last quarter. Okabena Investment Services Inc. lifted its stake in Meta Platforms by 19.7% in the fourth quarter. Okabena Investment Services Inc. now owns 1,466 shares of the social networking company’s stock valued at $858,000 after acquiring an additional 241 shares during the last quarter. Finally, Allianz SE bought a new stake in Meta Platforms in the fourth quarter worth approximately $59,219,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Down 4.3 %

META opened at $576.74 on Friday. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The firm has a 50 day simple moving average of $655.23 and a 200 day simple moving average of $609.21.

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

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a $0.525 dividend. The ex-dividend date was 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 dividend yield of 0.36%. Meta Platforms’s dividend payout ratio is 8.78%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $717.72, for a total value of $39,897,337.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 5,060 shares of the firm’s stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $3,727,550.20. Following the sale, the chief technology officer now directly owns 5,139 shares in the company, valued at approximately $3,785,747.13. This represents a 49.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 584,823 shares of company stock worth $386,274,777 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the subject of several analyst reports. Scotiabank lifted their price objective on shares of Meta Platforms from $583.00 to $627.00 and gave the company a “sector perform” rating in a research note on Thursday, January 30th. Jefferies Financial Group upped their price target on Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Arete Research raised Meta Platforms to a “hold” rating in a report on Friday, January 24th. Mizuho boosted their target price on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Susquehanna lifted their price target on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $718.31.

About Meta Platforms

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.