Sustainable Insight Capital Management LLC Cuts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Sustainable Insight Capital Management LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,162 shares of the social networking company’s stock after selling 100 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in Meta Platforms were worth $680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of META. Lindenwold Advisors INC raised its position in Meta Platforms by 0.3% during the 3rd quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company’s stock valued at $3,388,000 after purchasing an additional 17 shares during the last quarter. Insight Wealth Strategies LLC increased its stake in shares of Meta Platforms by 1.6% during the fourth quarter. Insight Wealth Strategies LLC now owns 1,067 shares of the social networking company’s stock valued at $625,000 after buying an additional 17 shares during the period. Steigerwald Gordon & Koch Inc. raised its holdings in shares of Meta Platforms by 0.6% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock valued at $1,569,000 after acquiring an additional 17 shares in the last quarter. Central Valley Advisors LLC lifted its stake in Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock worth $3,271,000 after acquiring an additional 18 shares during the period. Finally, Cherrydale Wealth Management LLC boosted its holdings in Meta Platforms by 0.5% in the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock valued at $2,199,000 after acquiring an additional 18 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

META has been the subject of several research analyst reports. Jefferies Financial Group raised their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Roth Mkm lifted their price objective on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler increased 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. KeyCorp raised their target price on Meta Platforms from $655.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Finally, UBS Group increased their price objective on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two investment 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $654.20.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $647.49 on Monday. Meta Platforms, Inc. has a 12-month low of $385.66 and a 12-month high of $652.00. The firm has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a 50 day moving average of $601.93 and a 200 day moving average of $560.51.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. 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 disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.31%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total transaction of $524,990.50. Following the transaction, the insider now owns 31,482 shares of the company’s stock, valued at $18,262,708.20. The trade was a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $607.97, for a total transaction of $21,838,890.37. The disclosure for this sale can be found here. Insiders have sold a total of 568,016 shares of company stock valued at $346,031,180 in the last ninety days. Corporate insiders own 13.71% of the company’s stock.

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.