Thoroughbred Financial Services LLC Has $17.15 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Thoroughbred Financial Services LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 29,293 shares of the social networking company’s stock after selling 279 shares during the quarter. Meta Platforms makes up 1.0% of Thoroughbred Financial Services LLC’s investment portfolio, making the stock its 17th largest position. Thoroughbred Financial Services LLC’s holdings in Meta Platforms were worth $17,151,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. JDM Financial Group LLC acquired a new stake in Meta Platforms in the 3rd quarter worth approximately $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms in the third quarter worth $36,000. Millstone Evans Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth $40,000. Avondale Wealth Management bought a new stake in shares of Meta Platforms during the 4th quarter worth $41,000. Finally, WealthTrak Capital Management LLC bought a new position in Meta Platforms in the 4th quarter worth $43,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on META shares. Oppenheimer upped their price target 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. Raymond James reaffirmed a “strong-buy” rating and issued a $800.00 target price (up previously from $725.00) on shares of Meta Platforms in a report on Thursday, January 30th. Pivotal Research upped their price target on Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Tigress Financial reissued a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Finally, Bank of America boosted their target price on shares of Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. 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 given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $718.55.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 55,589 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 8,553 shares of the business’s stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the transaction, the chief financial officer now owns 51,793 shares of the company’s stock, valued at $38,154,349.31. This trade represents a 14.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 549,113 shares of company stock worth $364,668,246. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Down 9.0 %

Shares of META opened at $531.62 on Friday. The company has a market capitalization of $1.35 trillion, a P/E ratio of 22.22, a PEG ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The business’s 50 day simple moving average is $651.00 and its 200-day simple moving average is $609.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98.

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, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same period last year, the company earned $5.33 EPS. As a group, sell-side 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 issued a dividend of $0.525 per share. The ex-dividend date was Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.40%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is currently 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.