Meta Platforms, Inc. (NASDAQ:META) is Pingora Partners LLC’s 8th Largest Position

Pingora Partners LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,970 shares of the social networking company’s stock after selling 200 shares during the quarter. Meta Platforms accounts for approximately 1.5% of Pingora Partners LLC’s holdings, making the stock its 8th biggest holding. Pingora Partners LLC’s holdings in Meta Platforms were worth $2,324,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Seelaus Asset Management LLC increased its holdings in Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after purchasing an additional 15 shares in the last quarter. Meredith Wealth Planning boosted its position in shares of Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after buying an additional 15 shares during the period. Maiden Cove Capital LLC grew its stake in shares of Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock valued at $282,000 after buying an additional 15 shares in the last quarter. Riverwater Partners LLC raised its holdings in shares of Meta Platforms by 2.7% during the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock valued at $335,000 after buying an additional 15 shares during the period. Finally, Stephens Consulting LLC lifted its position in Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock worth $186,000 after acquiring an additional 16 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on META shares. Truist Financial lowered their price objective on shares of Meta Platforms from $770.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Oppenheimer lifted their price target on shares of Meta Platforms from $650.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Citigroup decreased their price objective on shares of Meta Platforms from $780.00 to $655.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Robert W. Baird lifted their target price on Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Scotiabank reduced their price target on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a report on Monday. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $676.55.

Meta Platforms Trading Up 2.5 %

NASDAQ:META opened at $533.15 on Friday. The stock has a market cap of $1.35 trillion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. 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 debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock’s 50-day moving average is $590.37 and its two-hundred day moving average is $604.75.

Meta Platforms (NASDAQ:META) last issued 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 quarter last year, the company posted $5.33 earnings per share. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were given a $0.525 dividend. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.39%. The ex-dividend date was Friday, March 14th. Meta Platforms’s dividend payout ratio is presently 8.78%.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 8,553 shares of the company’s stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the sale, the chief financial officer now owns 51,793 shares in the company, valued at approximately $38,154,349.31. This represents a 14.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 55,589 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $717.72, for a total value of $39,897,337.08. The disclosure for this sale can be found here. Insiders sold 308,068 shares of company stock valued at $214,968,924 in the last three months. Corporate 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.