AlTi Global Inc. Trims Holdings in Meta Platforms, Inc. (NASDAQ:META)

AlTi Global Inc. reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,730 shares of the social networking company’s stock after selling 405 shares during the period. AlTi Global Inc.’s holdings in Meta Platforms were worth $5,718,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of META. Alaethes Wealth LLC grew its stake in shares of Meta Platforms by 0.8% in the fourth quarter. Alaethes Wealth LLC now owns 7,906 shares of the social networking company’s stock worth $4,629,000 after acquiring an additional 62 shares during the last quarter. 1248 Management LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at $2,211,000. 3G Capital Partners LP boosted its position in shares of Meta Platforms by 3.3% during the fourth quarter. 3G Capital Partners LP now owns 77,500 shares of the social networking company’s stock valued at $45,377,000 after buying an additional 2,500 shares during the last quarter. 4WEALTH Advisors Inc. bought a new stake in Meta Platforms in the 4th quarter worth about $730,000. Finally, Gallagher Fiduciary Advisors LLC raised its position in Meta Platforms by 27.2% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 2,681 shares of the social networking company’s stock worth $1,570,000 after buying an additional 574 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of a number of research analyst reports. Loop Capital reduced their price target on shares of Meta Platforms from $900.00 to $695.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Evercore ISI boosted their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday. Mizuho raised their price target on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Truist Financial upped their price objective on Meta Platforms from $700.00 to $720.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Guggenheim raised their target price on Meta Platforms from $675.00 to $725.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $696.45.

Insider Activity

In other news, CTO Andrew Bosworth sold 5,060 shares of the firm’s stock in a transaction dated Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $3,727,550.20. Following the completion of the sale, the chief technology officer now owns 5,139 shares in the company, valued at approximately $3,785,747.13. This trade represents a 49.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The disclosure for this sale can be found here. Insiders sold 237,017 shares of company stock valued at $167,207,524 in the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 4.3 %

NASDAQ META opened at $597.02 on Friday. The stock has a 50 day moving average price of $575.29 and a 200-day moving average price of $603.62. Meta Platforms, Inc. has a one year low of $442.65 and a one year high of $740.91. The company has a market capitalization of $1.51 trillion, a P/E ratio of 24.96, a P/E/G ratio of 1.42 and a beta of 1.24. 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 issued its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping analysts’ consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. The business’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the company posted $4.71 EPS. As a group, equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is 8.19%.

Meta Platforms Company 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.