Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Telemus Capital LLC

Telemus Capital LLC trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,241 shares of the social networking company’s stock after selling 560 shares during the period. Telemus Capital LLC’s holdings in Meta Platforms were worth $3,625,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 1.0% during the third quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock worth $55,011,920,000 after purchasing an additional 1,733,182 shares during the period. FMR LLC increased its holdings in shares of Meta Platforms by 4.0% in the 3rd quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after acquiring an additional 5,001,647 shares during the period. Morgan Stanley increased its holdings in shares of Meta Platforms by 3.4% in the 3rd quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock worth $10,890,950,000 after acquiring an additional 1,184,978 shares during the period. Northern Trust Corp increased its holdings in shares of Meta Platforms by 4.3% in the 3rd quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock worth $6,906,009,000 after acquiring an additional 946,871 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,143,462 shares of the social networking company’s stock worth $3,945,799,000 after acquiring an additional 111,735 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 19,681 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $392.36, for a total transaction of $7,722,037.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 19,681 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $392.36, for a total transaction of $7,722,037.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 10,956 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $5,185,255.68. Following the transaction, the chief financial officer now owns 76,398 shares in the company, valued at approximately $36,157,645.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,391,935 shares of company stock valued at $666,288,408. 14.03% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

NASDAQ META opened at $481.73 on Tuesday. The company has a 50 day simple moving average of $494.81 and a 200-day simple moving average of $401.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67. The firm has a market capitalization of $1.23 trillion, a price-to-earnings ratio of 32.33, a price-to-earnings-growth ratio of 1.22 and a beta of 1.20. Meta Platforms, Inc. has a 52-week low of $207.13 and a 52-week high of $531.49.

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

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s payout ratio is presently 13.42%.

Analyst Ratings Changes

A number of analysts recently weighed in on META shares. JPMorgan Chase & Co. increased their price objective on shares of Meta Platforms from $420.00 to $535.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Susquehanna increased their price objective on shares of Meta Platforms from $400.00 to $550.00 and gave the stock a “positive” rating in a report on Friday, February 2nd. Morgan Stanley increased their price objective on shares of Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Meta Platforms from $450.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, Wells Fargo & Company decreased their target price on shares of Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $520.28.

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.