United Services Automobile Association Has $29.55 Million Position in Meta Platforms, Inc. (NASDAQ:META)

United Services Automobile Association cut its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,473 shares of the social networking company’s stock after selling 370 shares during the period. Meta Platforms accounts for 1.0% of United Services Automobile Association’s portfolio, making the stock its 24th largest holding. United Services Automobile Association’s holdings in Meta Platforms were worth $29,552,000 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 Meta Platforms during the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter worth about $36,000. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms during the 4th quarter worth about $40,000. Avondale Wealth Management acquired a new position in Meta Platforms in the 4th quarter valued at about $41,000. Finally, Cordant Inc. acquired a new position in Meta Platforms in the 4th quarter valued at about $59,000. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Rosenblatt Securities restated a “buy” rating and set a $811.00 price objective on shares of Meta Platforms in a report on Monday, January 27th. Arete Research raised Meta Platforms to a “hold” rating in a report on Friday, January 24th. Mizuho lifted their target price on Meta Platforms from $675.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Tigress Financial restated a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company lifted their price objective on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $718.31.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $619.55 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The firm has a market cap of $1.57 trillion, a PE ratio of 25.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The firm’s fifty day moving average is $655.60 and its 200-day moving average is $607.11.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating 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 period last year, the firm posted $5.33 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a $0.525 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.34%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is 8.78%.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $717.72, for a total transaction of $39,897,337.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 921 shares of Meta Platforms stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $600.25, for a total value of $552,830.25. Following the completion of the transaction, the insider now directly owns 32,103 shares of the company’s stock, valued at approximately $19,269,825.75. This trade represents a 2.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 585,605 shares of company stock valued at $386,710,448. 13.71% of the stock is currently owned by insiders.

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.