Weaver Capital Management LLC Has $3.05 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Weaver Capital Management LLC cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,210 shares of the social networking company’s stock after selling 69 shares during the quarter. Weaver Capital Management LLC’s holdings in Meta Platforms were worth $3,051,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of META. AMF Tjanstepension AB lifted its holdings in shares of Meta Platforms by 32.5% during the 3rd quarter. AMF Tjanstepension AB now owns 457,092 shares of the social networking company’s stock valued at $261,680,000 after buying an additional 112,047 shares during the last quarter. Ritholtz Wealth Management raised its position in Meta Platforms by 1.0% during the third quarter. Ritholtz Wealth Management now owns 31,180 shares of the social networking company’s stock valued at $17,849,000 after acquiring an additional 323 shares in the last quarter. CRA Financial Services LLC raised its position in Meta Platforms by 0.6% during the third quarter. CRA Financial Services LLC now owns 13,874 shares of the social networking company’s stock valued at $7,942,000 after acquiring an additional 81 shares in the last quarter. Montis Financial LLC lifted its stake in Meta Platforms by 32.9% in the third quarter. Montis Financial LLC now owns 934 shares of the social networking company’s stock valued at $534,000 after acquiring an additional 231 shares during the last quarter. Finally, Annex Advisory Services LLC grew its position in Meta Platforms by 12.7% in the third quarter. Annex Advisory Services LLC now owns 70,057 shares of the social networking company’s stock worth $40,104,000 after acquiring an additional 7,919 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

META has been the topic of a number of recent research reports. Royal Bank of Canada raised their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 18th. Monness Crespi & Hardt upped their price target on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a research note on Monday, January 27th. Finally, Wolfe Research upped their target price on Meta Platforms from $670.00 to $730.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Two 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $710.83.

Insider Activity

In other news, CAO Aaron Anderson sold 731 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. This represents a 17.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the sale, the insider now owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This represents a 15.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 701,146 shares of company stock valued at $435,387,895. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

META stock opened at $714.52 on Monday. The company has a 50 day moving average price of $627.23 and a 200 day moving average price of $575.09. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $725.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a market capitalization of $1.81 trillion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 1.46 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the prior year, the company earned $5.33 earnings per share. Analysts forecast that Meta Platforms, Inc. will post 26.66 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.28%. Meta Platforms’s payout ratio is presently 8.36%.

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.