Meta Platforms, Inc. (NASDAQ:META) is WIM INVESTMENT MANAGEMENT Ltd’s 3rd Largest Position

WIM INVESTMENT MANAGEMENT Ltd raised its position in Meta Platforms, Inc. (NASDAQ:META) by 1,780.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,900 shares of the social networking company’s stock after acquiring an additional 46,300 shares during the quarter. Meta Platforms makes up about 9.8% of WIM INVESTMENT MANAGEMENT Ltd’s holdings, making the stock its 3rd biggest holding. WIM INVESTMENT MANAGEMENT Ltd’s holdings in Meta Platforms were worth $28,631,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC lifted its position in shares of Meta Platforms by 1.4% during the 4th quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock worth $34,087,000 after buying an additional 808 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Meta Platforms by 0.6% during the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock worth $82,314,000 after buying an additional 897 shares during the last quarter. Brueske Advisory Services LLC purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $459,000. Charles Schwab Investment Management Inc. lifted its position in shares of Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after buying an additional 118,298 shares during the last quarter. Finally, Apollon Financial LLC lifted its position in shares of Meta Platforms by 11.1% during the 4th quarter. Apollon Financial LLC now owns 1,479 shares of the social networking company’s stock worth $866,000 after buying an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of several recent analyst reports. Piper Sandler boosted their price objective on shares of Meta Platforms from $670.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Wells Fargo & Company lifted their target price on shares of Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Truist Financial lifted their target price on shares of Meta Platforms from $700.00 to $770.00 and gave the company a “buy” rating in a report on Thursday, January 30th. Cantor Fitzgerald lifted their target price on shares of Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Meta Platforms from $660.00 to $725.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Two equities 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $718.31.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $600.25, for a total value of $552,830.25. Following the transaction, the insider now directly owns 32,103 shares in the company, valued at approximately $19,269,825.75. This represents a 2.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 4,706 shares of the 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 approximately $15,422,186.45. The trade was a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 622,844 shares of company stock worth $409,212,161. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $596.25 on Friday. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16. The firm’s 50-day simple moving average is $655.38 and its 200 day simple moving average is $605.08. The firm has a market capitalization of $1.51 trillion, a PE ratio of 24.93, a P/E/G ratio of 1.42 and a beta of 1.23.

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

Meta Platforms Increases Dividend

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