Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Cut by Sitrin Capital Management LLC

Sitrin Capital Management LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 12.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,128 shares of the social networking company’s stock after selling 165 shares during the quarter. Sitrin Capital Management LLC’s holdings in Meta Platforms were worth $399,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in META. Narwhal Capital Management boosted its stake in shares of Meta Platforms by 4.7% during the 4th quarter. Narwhal Capital Management now owns 38,161 shares of the social networking company’s stock worth $13,507,000 after acquiring an additional 1,730 shares in the last quarter. Financial Insights Inc. boosted its stake in shares of Meta Platforms by 10.5% during the 4th quarter. Financial Insights Inc. now owns 2,635 shares of the social networking company’s stock worth $933,000 after acquiring an additional 250 shares in the last quarter. Capital Management Associates Inc bought a new stake in shares of Meta Platforms during the 4th quarter worth $545,000. Callahan Advisors LLC boosted its stake in shares of Meta Platforms by 0.7% during the 4th quarter. Callahan Advisors LLC now owns 125,249 shares of the social networking company’s stock worth $44,333,000 after acquiring an additional 875 shares in the last quarter. Finally, Arlington Trust Co LLC boosted its stake in shares of Meta Platforms by 488.2% during the 4th quarter. Arlington Trust Co LLC now owns 2,488 shares of the social networking company’s stock worth $881,000 after acquiring an additional 2,065 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

META has been the subject of several research reports. Truist Financial raised their price objective on Meta Platforms from $405.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on Meta Platforms from $450.00 to $525.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Stifel Nicolaus increased their target price on Meta Platforms from $405.00 to $527.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Barclays increased their target price on Meta Platforms from $400.00 to $550.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Finally, TD Cowen increased their target price on Meta Platforms from $415.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirty-nine have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $499.38.

Meta Platforms Trading Up 3.2 %

Shares of NASDAQ:META opened at $527.34 on Monday. The company has a market cap of $1.34 trillion, a P/E ratio of 35.39, a P/E/G ratio of 1.36 and a beta of 1.20. The stock’s 50-day moving average is $480.84 and its 200-day moving average is $385.49. Meta Platforms, Inc. has a 52-week low of $207.13 and a 52-week high of $530.70. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.82 by $0.51. The company had revenue of $40.11 billion for the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The firm’s revenue was up 24.7% compared to the same quarter last year. During the same period last year, the business posted $3.00 earnings per share. Equities research analysts predict that Meta Platforms, Inc. will post 19.94 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s dividend payout ratio (DPR) is presently 13.42%.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 31,465 shares of Meta Platforms stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $491.49, for a total transaction of $15,464,732.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Mark Zuckerberg sold 31,465 shares of Meta Platforms stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $491.49, for a total transaction of $15,464,732.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 566 shares of Meta Platforms stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $373.58, for a total value of $211,446.28. Following the sale, the insider now directly owns 35,852 shares in the company, valued at $13,393,590.16. The disclosure for this sale can be found here. Insiders have sold a total of 1,495,983 shares of company stock valued at $705,134,392 over the last three months. 14.03% of the stock is owned by corporate insiders.

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.