Arvin Capital Management LP Purchases Shares of 7,064 Meta Platforms, Inc. (NASDAQ:META)

Arvin Capital Management LP bought a new position in Meta Platforms, Inc. (NASDAQ:META) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 7,064 shares of the social networking company’s stock, valued at approximately $4,136,000. Meta Platforms comprises 1.2% of Arvin Capital Management LP’s holdings, making the stock its 26th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ballentine Partners LLC boosted its position in shares of Meta Platforms by 1.4% during the 4th 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 last quarter. UMB Bank n.a. boosted its holdings in shares of Meta Platforms by 0.6% during the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock worth $82,314,000 after purchasing an additional 897 shares during the period. Brueske Advisory Services LLC bought a new position in shares of Meta Platforms during the fourth quarter valued at approximately $459,000. Apollon Financial LLC raised its holdings 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 purchasing an additional 148 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Meta Platforms by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock worth $3,908,382,000 after buying an additional 110,040 shares during the period. 79.91% of the stock is owned by institutional investors.

Analysts Set New Price Targets

META has been the topic of several recent analyst reports. Morgan Stanley dropped their price objective on Meta Platforms from $660.00 to $615.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Jefferies Financial Group decreased their price objective on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Oppenheimer increased their price objective on shares of Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Wolfe Research increased their price objective on shares of Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $750.00 price target on shares of Meta Platforms in a research note on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $681.67.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 608 shares of Meta Platforms stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the completion of the sale, the chief operating officer now owns 5,622 shares in the company, valued at approximately $2,744,547.96. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $531.22, for a total value of $489,253.62. Following the completion of the transaction, the insider now owns 28,419 shares of the company’s stock, valued at $15,096,741.18. The trade was a 3.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 378,583 shares of company stock worth $259,991,992 in the last quarter. 13.71% of the stock is owned by company insiders.

Meta Platforms Price Performance

META stock opened at $484.66 on Tuesday. The company’s fifty day simple moving average is $603.33 and its 200 day simple moving average is $606.43. The firm has a market cap of $1.23 trillion, a price-to-earnings ratio of 20.26, a PEG ratio of 1.42 and a beta of 1.28. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate 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 period last year, the business posted $5.33 earnings per share. On average, analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. The ex-dividend date was Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.43%. Meta Platforms’s payout ratio is 8.78%.

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.