Meta Platforms, Inc. (NASDAQ:META) is Polymer Capital Management HK LTD’s 9th Largest Position

Polymer Capital Management HK LTD decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 27.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,345 shares of the social networking company’s stock after selling 8,162 shares during the period. Meta Platforms comprises about 2.2% of Polymer Capital Management HK LTD’s holdings, making the stock its 9th largest position. Polymer Capital Management HK LTD’s holdings in Meta Platforms were worth $12,498,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Meta Platforms in the 4th quarter worth about $19,949,512,000. Proficio Capital Partners LLC boosted its stake in Meta Platforms by 78,471.1% in the fourth quarter. Proficio Capital Partners LLC now owns 6,248,763 shares of the social networking company’s stock valued at $3,658,713,000 after acquiring an additional 6,240,810 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Meta Platforms during the 4th quarter valued at approximately $2,243,603,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Meta Platforms by 27.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,901,521 shares of the social networking company’s stock worth $5,211,967,000 after purchasing an additional 1,892,509 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 191,198,005 shares of the social networking company’s stock worth $111,948,344,000 after purchasing an additional 1,502,553 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on META shares. Piper Sandler raised their target price on 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 price objective on Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Arete Research raised shares of Meta Platforms to a “hold” rating in a report on Friday, January 24th. Bank of America lifted their target price on shares of Meta Platforms from $710.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Finally, KeyCorp dropped their price target on shares of Meta Platforms from $750.00 to $710.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 18th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $718.55.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of the firm’s stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $6,300,738.51. Following the completion of the transaction, the chief financial officer now owns 51,793 shares of the company’s stock, valued at approximately $38,154,349.31. This trade represents a 14.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $631.55, for a total transaction of $571,552.75. Following the sale, the insider now directly owns 32,010 shares in the company, valued at $20,215,915.50. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 549,113 shares of company stock worth $364,668,246. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $504.73 on Friday. 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 stock has a market cap of $1.28 trillion, a PE ratio of 21.10, a PEG ratio of 1.42 and a beta of 1.28. The company’s fifty day moving average is $648.15 and its 200 day moving average is $610.27. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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 return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the previous year, the company earned $5.33 EPS. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Friday, March 14th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.42%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms’s payout ratio is presently 8.78%.

Meta Platforms Company 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.