Meta Platforms, Inc. $META Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP lowered its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 44.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 112,440 shares of the social networking company’s stock after selling 91,689 shares during the period. Artemis Investment Management LLP’s holdings in Meta Platforms were worth $74,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 3.2% during the 3rd quarter. Valued Wealth Advisors LLC now owns 454 shares of the social networking company’s stock worth $334,000 after acquiring an additional 14 shares in the last quarter. First National Bank Sioux Falls boosted its stake in shares of Meta Platforms by 0.7% during the 4th quarter. First National Bank Sioux Falls now owns 2,001 shares of the social networking company’s stock worth $1,321,000 after acquiring an additional 14 shares in the last quarter. Levin Capital Strategies L.P. boosted its stake in shares of Meta Platforms by 1.4% during the 4th quarter. Levin Capital Strategies L.P. now owns 984 shares of the social networking company’s stock worth $649,000 after acquiring an additional 14 shares in the last quarter. Vista Capital Partners Inc. boosted its stake in shares of Meta Platforms by 1.3% during the 2nd quarter. Vista Capital Partners Inc. now owns 1,075 shares of the social networking company’s stock worth $794,000 after acquiring an additional 14 shares in the last quarter. Finally, Forza Wealth Management LLC boosted its stake in shares of Meta Platforms by 3.9% during the 3rd quarter. Forza Wealth Management LLC now owns 402 shares of the social networking company’s stock worth $295,000 after acquiring an additional 15 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Insider Transactions at Meta Platforms

In related news, Director Robert M. Kimmitt sold 580 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $667.00, for a total transaction of $386,860.00. Following the sale, the director owned 3,847 shares in the company, valued at $2,565,949. This represents a 13.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Javier Olivan sold 926 shares of the stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $607.74, for a total transaction of $562,767.24. Following the sale, the chief operating officer owned 7,779 shares in the company, valued at approximately $4,727,609.46. This trade represents a 10.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 167,676 shares of company stock worth $107,299,848. Company insiders own 13.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on META. Rosenblatt Securities reissued a “buy” rating and set a $1,015.00 price target on shares of Meta Platforms in a research note on Thursday, April 30th. DA Davidson lifted their price objective on Meta Platforms from $825.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Pivotal Research cut their price objective on Meta Platforms from $930.00 to $910.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Jefferies Financial Group lifted their price objective on Meta Platforms from $910.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. Finally, Cantor Fitzgerald cut their price objective on Meta Platforms from $850.00 to $750.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $840.31.

Read Our Latest Stock Report on Meta Platforms

Meta Platforms Stock Up 0.7%

Shares of Meta Platforms stock opened at $603.00 on Wednesday. The company has a fifty day moving average price of $624.72 and a 200 day moving average price of $642.58. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.24. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $796.25. The stock has a market cap of $1.53 trillion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25.

Meta Platforms (NASDAQ:METAGet Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The social networking company reported $10.44 earnings per share for the quarter, topping analysts’ consensus estimates of $6.67 by $3.77. The firm had revenue of $56.31 billion during the quarter, compared to analysts’ expectations of $55.56 billion. Meta Platforms had a net margin of 32.84% and a return on equity of 36.93%. The firm’s revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the company earned $6.43 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 29.65 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Monday, March 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, March 16th. Meta Platforms’s dividend payout ratio is 7.63%.

About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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