DLK Investment Management LLC Trims Holdings in Meta Platforms, Inc. (NASDAQ:META)

DLK Investment Management LLC reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,920 shares of the social networking company’s stock after selling 52 shares during the period. DLK Investment Management LLC’s holdings in Meta Platforms were worth $1,124,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of META. Geode Capital Management LLC boosted its position in shares of Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Jennison Associates LLC boosted its holdings in Meta Platforms by 1.9% in the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after acquiring an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after acquiring an additional 118,298 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after acquiring an additional 9,500,444 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Meta Platforms by 2.8% in the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock worth $4,101,602,000 after purchasing an additional 186,728 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 analyst reports. Jefferies Financial Group raised their price objective on shares of Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Mizuho boosted their price objective on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group boosted their price target on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $652.98.

Meta Platforms Price Performance

META stock opened at $623.50 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company’s fifty day moving average price is $598.87 and its 200-day moving average price is $558.76. Meta Platforms, Inc. has a one year low of $382.08 and a one year high of $638.40. The company has a market capitalization of $1.57 trillion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. On average, equities analysts anticipate that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $604.54, for a total transaction of $547,108.70. Following the sale, the insider now owns 31,105 shares in the company, valued at approximately $18,804,216.70. This represents a 2.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $633.25, for a total transaction of $22,746,973.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 567,111 shares of company stock worth $345,453,784. 13.71% of the stock is currently owned by insiders.

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.