Meta Platforms, Inc. (NASDAQ:META) Stock Position Trimmed by Himension Capital Singapore PTE. LTD.

Himension Capital Singapore PTE. LTD. trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,714 shares of the social networking company’s stock after selling 1,531 shares during the period. Meta Platforms comprises 2.1% of Himension Capital Singapore PTE. LTD.’s investment portfolio, making the stock its 9th biggest holding. Himension Capital Singapore PTE. LTD.’s holdings in Meta Platforms were worth $29,694,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of META. Columbus Hill Capital Management L.P. raised its position in Meta Platforms by 64.6% in the fourth quarter. Columbus Hill Capital Management L.P. now owns 87,826 shares of the social networking company’s stock worth $51,423,000 after acquiring an additional 34,476 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Meta Platforms by 0.4% in the 4th quarter. Quadrant Capital Group LLC now owns 24,089 shares of the social networking company’s stock valued at $14,104,000 after purchasing an additional 95 shares in the last quarter. Cascades Capital Asset Management LLC lifted its stake in shares of Meta Platforms by 2.3% in the fourth quarter. Cascades Capital Asset Management LLC now owns 4,056 shares of the social networking company’s stock valued at $2,375,000 after purchasing an additional 91 shares during the period. Ilmarinen Mutual Pension Insurance Co boosted its holdings in Meta Platforms by 37.0% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 351,500 shares of the social networking company’s stock worth $205,807,000 after buying an additional 95,000 shares in the last quarter. Finally, Nutshell Asset Management Ltd acquired a new position in Meta Platforms during the fourth quarter worth about $7,004,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 55,589 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $717.72, for a total value of $39,897,337.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,553 shares of the business’s stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the transaction, the chief financial officer now owns 51,793 shares of the company’s stock, valued at $38,154,349.31. This represents a 14.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 549,113 shares of company stock worth $364,668,246 over the last quarter. 13.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on META. Citigroup boosted their price target on Meta Platforms from $753.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. KeyCorp dropped their price target on Meta Platforms from $750.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Jefferies Financial Group decreased their price objective on shares of Meta Platforms from $810.00 to $725.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Royal Bank of Canada raised their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Finally, Oppenheimer upped their price target on shares of Meta Platforms from $650.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $718.55.

Meta Platforms Stock Down 5.1 %

Shares of Meta Platforms stock opened at $504.73 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $740.91. The business has a 50-day moving average of $648.15 and a 200-day moving average of $610.27. The company has a market capitalization of $1.28 trillion, a PE ratio of 21.10, a P/E/G ratio of 1.42 and a beta of 1.28.

Meta Platforms (NASDAQ:META) last announced 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 earned $5.33 earnings per share. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a $0.525 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.42%. Meta Platforms’s payout ratio is 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.