Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Sollinda Capital Management LLC

Sollinda Capital Management LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 619 shares of the social networking company’s stock after selling 55 shares during the period. Sollinda Capital Management LLC’s holdings in Meta Platforms were worth $362,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased 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 worth $27,470,870,000 after buying an additional 698,884 shares during the period. Jennison Associates LLC increased its holdings in shares of Meta Platforms by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after acquiring an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. raised its position in Meta Platforms by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock valued at $8,344,552,000 after purchasing an additional 424,201 shares during the last quarter. Franklin Resources Inc. boosted its stake in Meta Platforms by 2.8% during the 3rd quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock worth $4,101,602,000 after purchasing an additional 186,728 shares during the period. Finally, Fisher Asset Management LLC increased its stake in Meta Platforms by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock valued at $3,908,382,000 after purchasing an additional 110,040 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. DA Davidson increased their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. UBS Group boosted their target price on Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a report on Thursday, January 30th. JMP Securities reiterated a “market outperform” rating and issued a $750.00 price objective on shares of Meta Platforms in a research report on Monday, January 27th. Truist Financial raised their target price on shares of Meta Platforms from $700.00 to $770.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Two 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 an average target price of $719.26.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of the business’s stock in a transaction dated Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the transaction, the chief operating officer now owns 20,935 shares in the company, valued at $15,422,186.45. The trade was a 18.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 902 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $713.32, for a total value of $643,414.64. Following the completion of the sale, the insider now owns 27,488 shares of the company’s stock, valued at approximately $19,607,740.16. This trade represents a 3.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 690,689 shares of company stock worth $451,269,409. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Up 2.9 %

Shares of META opened at $607.60 on Friday. The stock’s fifty day simple moving average is $658.01 and its 200 day simple moving average is $603.19. Meta Platforms, Inc. has a twelve month low of $414.50 and a twelve month high of $740.91. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 25.40, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, beating the consensus estimate 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 company posted $5.33 EPS. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

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.