One Capital Management LLC Sells 1,650 Shares of Meta Platforms, Inc. (NASDAQ:META)

One Capital Management LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 4.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,170 shares of the social networking company’s stock after selling 1,650 shares during the period. One Capital Management LLC’s holdings in Meta Platforms were worth $22,934,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of META. JDM Financial Group LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $30,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $36,000. Avondale Wealth Management purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $41,000. Cordant Inc. purchased a new position in shares of Meta Platforms in the 4th quarter valued at approximately $59,000. Finally, Peterson Financial Group Inc. purchased a new position in shares of Meta Platforms in the 3rd quarter valued at approximately $70,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 1.3 %

Shares of META opened at $605.71 on Wednesday. The firm has a market cap of $1.53 trillion, a P/E ratio of 25.32, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91. The company’s 50-day moving average price is $657.45 and its 200 day moving average price is $601.96. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.75 by $1.27. Meta Platforms had a net margin of 37.91% and a return on equity of 38.17%. During the same period last year, the company posted $5.33 EPS. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be issued a $0.525 dividend. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s payout ratio is 8.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of Meta Platforms from $680.00 to $750.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Royal Bank of Canada raised their price target on shares of Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Scotiabank raised their price target on shares of Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a research report on Thursday, January 30th. Morgan Stanley raised their price target on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, BMO Capital Markets raised their price target on shares of Meta Platforms from $530.00 to $610.00 and gave the stock a “market perform” rating in a research report on Thursday, January 30th. Two investment 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $719.26.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $629.56, for a total transaction of $260,008.28. Following the sale, the chief operating officer now directly owns 18,340 shares in the company, valued at $11,546,130.40. This represents a 2.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $622.24, for a total transaction of $22,351,483.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 725,081 shares of company stock worth $472,702,625. Company insiders own 13.71% of the company’s stock.

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.