AMI Investment Management Inc. Has $5.48 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

AMI Investment Management Inc. reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,356 shares of the social networking company’s stock after selling 192 shares during the quarter. Meta Platforms makes up approximately 1.8% of AMI Investment Management Inc.’s portfolio, making the stock its 15th largest position. AMI Investment Management Inc.’s holdings in Meta Platforms were worth $5,478,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after acquiring an additional 118,298 shares in the last quarter. LS Investment Advisors LLC grew its stake in Meta Platforms by 111.4% in the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after purchasing an additional 6,155 shares in the last quarter. Cutter & CO Brokerage Inc. increased its position in Meta Platforms by 0.7% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after purchasing an additional 65 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Meta Platforms by 1.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 412,046 shares of the social networking company’s stock worth $235,872,000 after purchasing an additional 5,594 shares in the last quarter. Finally, M&G PLC lifted its holdings in shares of Meta Platforms by 14.6% during the 3rd quarter. M&G PLC now owns 721,339 shares of the social networking company’s stock valued at $412,606,000 after buying an additional 91,773 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on META. Susquehanna raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research report on Thursday, October 31st. Citigroup raised their price target on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets upped their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Finally, Mizuho upped their price target on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $652.98.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 35,921 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $633.25, for a total transaction of $22,746,973.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $29,776,261.56. This represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 567,111 shares of company stock worth $345,453,784 in the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

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

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $40.21 billion. As a group, analysts predict that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

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.