Meta Platforms, Inc. (NASDAQ:META) Position Reduced by Seven Post Investment Office LP

Seven Post Investment Office LP reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 63.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,030 shares of the social networking company’s stock after selling 1,807 shares during the period. Meta Platforms comprises about 0.2% of Seven Post Investment Office LP’s investment portfolio, making the stock its 25th biggest holding. Seven Post Investment Office LP’s holdings in Meta Platforms were worth $603,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of META. Fiera Capital Corp raised its position in Meta Platforms by 35.1% in the second quarter. Fiera Capital Corp now owns 27,272 shares of the social networking company’s stock worth $13,751,000 after acquiring an additional 7,089 shares in the last quarter. Harmony Asset Management LLC raised its holdings in shares of Meta Platforms by 55.9% in the 2nd quarter. Harmony Asset Management LLC now owns 1,624 shares of the social networking company’s stock worth $819,000 after purchasing an additional 582 shares in the last quarter. Nippon Life Global Investors Americas Inc. lifted its stake in Meta Platforms by 6.2% during the second quarter. Nippon Life Global Investors Americas Inc. now owns 90,060 shares of the social networking company’s stock valued at $45,410,000 after purchasing an additional 5,250 shares during the last quarter. J. Stern & Co. LLP boosted its holdings in Meta Platforms by 4.2% during the second quarter. J. Stern & Co. LLP now owns 111,306 shares of the social networking company’s stock worth $56,123,000 after buying an additional 4,487 shares in the last quarter. Finally, Steel Grove Capital Advisors LLC lifted its position in shares of Meta Platforms by 22.4% during the 2nd quarter. Steel Grove Capital Advisors LLC now owns 2,095 shares of the social networking company’s stock valued at $1,056,000 after acquiring an additional 384 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 1.1 %

Meta Platforms stock opened at $623.50 on Thursday. The business’s 50-day simple moving average is $598.87 and its 200-day simple moving average is $558.76. Meta Platforms, Inc. has a 52 week low of $382.08 and a 52 week high of $638.40. The firm has a market capitalization of $1.57 trillion, a PE ratio of 29.37, a PEG ratio of 1.16 and a beta of 1.19. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insiders Place Their Bets

In related news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $574.16, for a total value of $237,128.08. Following the completion of the transaction, the chief operating officer now directly owns 10,707 shares of the company’s stock, valued at $6,147,531.12. This trade represents a 3.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the completion of the sale, the chief financial officer now directly owns 51,591 shares in the company, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 567,111 shares of company stock worth $345,453,784 in the last ninety days. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on META shares. Citigroup lifted their price target on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Mizuho boosted their price target on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Truist Financial raised their price objective on shares of Meta Platforms from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Robert W. Baird boosted their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Piper Sandler raised their target price on Meta Platforms from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $652.98.

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.