Veracity Capital LLC Has $1.97 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Veracity Capital LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,360 shares of the social networking company’s stock after selling 34 shares during the period. Meta Platforms comprises 0.7% of Veracity Capital LLC’s holdings, making the stock its 20th largest holding. Veracity Capital LLC’s holdings in Meta Platforms were worth $1,967,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. International Assets Investment Management LLC increased its holdings in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after buying an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC boosted its position in shares of Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after acquiring an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC increased its stake in Meta Platforms by 4,658.5% in the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after acquiring an additional 890,434 shares during the last quarter. Geode Capital Management LLC raised its position in Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Meta Platforms by 926.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock worth $369,774,000 after purchasing an additional 661,923 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 420 shares of Meta Platforms stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total transaction of $252,071.40. Following the transaction, the chief executive officer now owns 518,004 shares of the company’s stock, valued at $310,890,460.68. The trade was a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $618.00, for a total value of $559,290.00. Following the completion of the sale, the insider now directly owns 30,200 shares of the company’s stock, valued at $18,663,600. The trade was a 2.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 568,016 shares of company stock valued at $346,031,180 over the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 1.7 %

Shares of NASDAQ:META opened at $647.49 on Monday. 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, Inc. has a 52-week low of $385.66 and a 52-week high of $652.00. The business’s 50 day simple moving average is $601.93 and its two-hundred day simple moving average is $560.51. The firm has a market cap of $1.63 trillion, a P/E ratio of 30.50, a PEG ratio of 1.18 and a beta of 1.19.

Meta Platforms (NASDAQ:META) last issued 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. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.96 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group lifted their price target on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Citigroup boosted their target price on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating and set a $700.00 price target (up from $680.00) on shares of Meta Platforms in a report on Wednesday, January 22nd. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Finally, Pivotal Research boosted their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.