Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Lowered by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 27.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 21,345 shares of the social networking company’s stock after selling 8,162 shares during the quarter. Meta Platforms makes up approximately 2.2% of Polymer Capital Management HK LTD’s portfolio, making the stock its 9th largest holding. Polymer Capital Management HK LTD’s holdings in Meta Platforms were worth $12,498,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC lifted its holdings in Meta Platforms by 1.4% in the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock valued at $34,087,000 after acquiring an additional 808 shares during the period. UMB Bank n.a. lifted its position in shares of Meta Platforms by 0.6% during the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock valued at $82,314,000 after buying an additional 897 shares in the last quarter. Brueske Advisory Services LLC bought a new position in shares of Meta Platforms in the fourth quarter worth approximately $459,000. Apollon Financial LLC increased its stake in Meta Platforms by 11.1% in the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock worth $866,000 after buying an additional 148 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in Meta Platforms by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock valued at $3,908,382,000 after purchasing an additional 110,040 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 5.1 %

META stock opened at $504.73 on Friday. The firm’s fifty day moving average is $648.15 and its 200 day moving average is $610.27. The firm has a market cap of $1.28 trillion, a PE ratio of 21.10, a P/E/G ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS 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 quarter in the previous year, the firm posted $5.33 EPS. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.42%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms’s dividend payout ratio is presently 8.78%.

Analyst Ratings Changes

Several brokerages have commented on META. The Goldman Sachs Group boosted their price target on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Jefferies Financial Group reduced their target price on shares of Meta Platforms from $810.00 to $725.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Royal Bank of Canada raised their price target on Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Truist Financial boosted their price objective on Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $718.55.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the stock in a transaction on Monday, March 31st. The shares were sold at an average price of $563.03, for a total transaction of $342,322.24. Following the transaction, the chief operating officer now directly owns 6,230 shares of the company’s stock, valued at $3,507,676.90. This trade represents a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 8,553 shares of the business’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 sale, the chief financial officer now directly owns 51,793 shares of the company’s stock, valued at $38,154,349.31. This represents a 14.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 549,113 shares of company stock worth $364,668,246 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

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.