Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Zweig DiMenna Associates LLC

Zweig DiMenna Associates LLC cut its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,512 shares of the social networking company’s stock after selling 190 shares during the period. Meta Platforms accounts for 3.0% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 5th largest holding. Zweig DiMenna Associates LLC’s holdings in Meta Platforms were worth $40,114,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. JDM Financial Group LLC acquired a new stake in shares of Meta Platforms in the third quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC acquired a new stake in Meta Platforms during the 3rd quarter valued at $36,000. Avondale Wealth Management bought a new position in Meta Platforms during the fourth quarter worth $41,000. Halpern Financial Inc. acquired a new position in shares of Meta Platforms in the third quarter valued at $46,000. Finally, West Financial Advisors LLC bought a new position in shares of Meta Platforms in the third quarter valued at about $49,000. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 8,951 shares of Meta Platforms 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 transaction, the chief financial officer now owns 51,591 shares of the company’s stock, valued at $29,776,261.56. This trade represents a 14.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 603,032 shares of company stock worth $368,666,614 over the last ninety days. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 1.9 %

NASDAQ:META opened at $659.88 on Tuesday. 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, Inc. has a one year low of $387.10 and a one year high of $663.87. The firm’s 50 day simple moving average is $604.04 and its 200 day simple moving average is $561.55. The company has a market cap of $1.67 trillion, a PE ratio of 31.08, a P/E/G ratio of 1.18 and a beta of 1.19.

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. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. On average, research analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.30%. Meta Platforms’s payout ratio is 9.42%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. The Goldman Sachs Group lifted their target price on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Citigroup upped their target price on Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Monday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a report on Monday. Finally, Wolfe Research lifted their target price on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $654.20.

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.