Meta Platforms, Inc. (NASDAQ:META) is Intermede Investment Partners Ltd’s 8th Largest Position

Intermede Investment Partners Ltd increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 256,615 shares of the social networking company’s stock after buying an additional 8,030 shares during the period. Meta Platforms comprises approximately 4.0% of Intermede Investment Partners Ltd’s holdings, making the stock its 8th largest holding. Intermede Investment Partners Ltd’s holdings in Meta Platforms were worth $150,251,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Seelaus Asset Management LLC lifted its position in shares of Meta Platforms by 0.9% in the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock worth $960,000 after purchasing an additional 15 shares during the period. Meredith Wealth Planning boosted its position in Meta Platforms by 0.8% during the 4th quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock valued at $1,097,000 after acquiring an additional 15 shares in the last quarter. Stephens Consulting LLC boosted its position in Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after acquiring an additional 16 shares in the last quarter. VeraBank N.A. increased its holdings in shares of Meta Platforms by 0.8% in the 4th quarter. VeraBank N.A. now owns 1,954 shares of the social networking company’s stock valued at $1,144,000 after acquiring an additional 16 shares during the period. Finally, LGL Partners LLC raised its position in shares of Meta Platforms by 0.6% in the 4th quarter. LGL Partners LLC now owns 2,834 shares of the social networking company’s stock worth $1,659,000 after acquiring an additional 16 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Susan J. Li sold 8,553 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 51,793 shares of the company’s stock, valued at approximately $38,154,349.31. This represents a 14.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 10,100 shares of Meta Platforms stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $601.54, for a total transaction of $6,075,554.00. The disclosure for this sale can be found here. Insiders sold 653,450 shares of company stock worth $427,997,036 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.4 %

NASDAQ META opened at $604.90 on Tuesday. Meta Platforms, Inc. has a one year low of $414.50 and a one year high of $740.91. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The business has a fifty day moving average price of $657.51 and a 200 day moving average price of $604.41. The company has a market cap of $1.53 trillion, a P/E ratio of 25.29, a P/E/G ratio of 1.42 and a beta of 1.23.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the company earned $5.33 EPS. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Piper Sandler lifted their target price on Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a research note on Tuesday, February 11th. KeyCorp increased their target price on shares of Meta Platforms from $700.00 to $750.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Wedbush reiterated an “outperform” rating and set a $770.00 price objective (up previously from $700.00) on shares of Meta Platforms 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 assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $719.26.

About Meta Platforms

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.