Olstein Capital Management L.P. Has $2.69 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Olstein Capital Management L.P. lessened its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 11.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,600 shares of the social networking company’s stock after selling 600 shares during the quarter. Olstein Capital Management L.P.’s holdings in Meta Platforms were worth $2,693,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. JDM Financial Group LLC acquired a new position in shares of Meta Platforms during the 3rd quarter worth about $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms during the 3rd quarter worth approximately $36,000. Avondale Wealth Management bought a new position in Meta Platforms during the 4th quarter worth approximately $41,000. Halpern Financial Inc. acquired a new position in Meta Platforms during the third quarter valued at approximately $46,000. Finally, West Financial Advisors LLC bought a new stake in Meta Platforms in the third quarter valued at approximately $49,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 35,921 shares of Meta Platforms stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $644.76, for a total value of $23,160,423.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company’s stock, valued at $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 602,612 shares of company stock valued at $368,414,542. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

NASDAQ META opened at $674.33 on Wednesday. The firm has a 50-day moving average price of $606.30 and a two-hundred day moving average price of $562.78. Meta Platforms, Inc. has a 12-month low of $387.10 and a 12-month high of $682.58. The company has a market capitalization of $1.70 trillion, a P/E ratio of 31.76, a P/E/G ratio of 1.18 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Analysts anticipate that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, December 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.30%. Meta Platforms’s payout ratio is 9.42%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Roth Mkm boosted their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Pivotal Research lifted their price objective on Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on Meta Platforms from $660.00 to $725.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Wells Fargo & Company lifted their price target on shares of Meta Platforms from $641.00 to $685.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Raymond James raised their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 21st. Two 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, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $654.20.

Read Our Latest Stock Report on Meta Platforms

Meta Platforms Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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