Dorsal Capital Management LP Has $166.87 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Dorsal Capital Management LP decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 28.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 285,000 shares of the social networking company’s stock after selling 115,000 shares during the quarter. Meta Platforms accounts for about 3.9% of Dorsal Capital Management LP’s holdings, making the stock its 8th biggest holding. Dorsal Capital Management LP’s holdings in Meta Platforms were worth $166,870,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of META. Millstone Evans Group LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $40,000. Avondale Wealth Management bought a new position in Meta Platforms in the fourth quarter worth about $41,000. WealthTrak Capital Management LLC acquired a new position in Meta Platforms in the fourth quarter valued at approximately $43,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms during the fourth quarter valued at approximately $45,000. Finally, Cordant Inc. acquired a new stake in shares of Meta Platforms during the 4th quarter worth approximately $59,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on META. Jefferies Financial Group cut their target price on Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Raymond James cut their price objective on shares of Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 1st. Bank of America upped their target price on shares of Meta Platforms from $640.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Scotiabank reduced their price objective on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a research report on Monday, April 21st. Finally, Truist Financial increased their price objective on Meta Platforms from $700.00 to $720.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $696.45.

Meta Platforms Trading Down 2.0 %

Shares of NASDAQ:META opened at $587.31 on Wednesday. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.49 trillion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 1.42 and a beta of 1.24. The firm has a fifty day moving average of $572.38 and a two-hundred day moving average of $604.03.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. During the same quarter in the previous year, the company posted $4.71 earnings per share. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were issued a $0.525 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.36%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 8.19%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 608 shares of the firm’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $555.54, for a total transaction of $337,768.32. Following the transaction, the chief operating officer now directly owns 3,798 shares in the company, valued at $2,109,940.92. This trade represents a 13.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $545.17, for a total value of $502,101.57. Following the sale, the insider now owns 26,577 shares of the company’s stock, valued at approximately $14,488,983.09. This trade represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 209,749 shares of company stock worth $148,089,532 over the last ninety days. 13.71% of the stock is currently owned by insiders.

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.