Arbor Capital Management Inc. ADV Sells 305 Shares of Meta Platforms, Inc. (NASDAQ:META)

Arbor Capital Management Inc. ADV reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 10.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,679 shares of the social networking company’s stock after selling 305 shares during the quarter. Meta Platforms makes up about 1.6% of Arbor Capital Management Inc. ADV’s holdings, making the stock its 22nd biggest holding. Arbor Capital Management Inc. ADV’s holdings in Meta Platforms were worth $1,569,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares during the last quarter. Jennison Associates LLC lifted its position in Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after purchasing an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Meta Platforms by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 14,251,766 shares of the social networking company’s stock valued at $8,344,552,000 after purchasing an additional 424,201 shares during the last quarter. Franklin Resources Inc. lifted its position in Meta Platforms by 2.8% during the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after purchasing an additional 186,728 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in Meta Platforms by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company’s stock valued at $3,908,382,000 after purchasing an additional 110,040 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Javier Olivan sold 608 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $607.50, for a total transaction of $369,360.00. Following the completion of the sale, the chief operating officer now owns 7,446 shares of the company’s stock, valued at $4,523,445. This represents a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 10,100 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were 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 have sold a total of 632,023 shares of company stock worth $414,734,884 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the subject of several research analyst reports. Mizuho lifted their target price on shares of Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. Barclays lifted their price target on shares of Meta Platforms from $630.00 to $705.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. 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 research note on Thursday, January 30th. Arete Research raised shares of Meta Platforms to a “hold” rating in a research note on Friday, January 24th. Finally, Piper Sandler lifted their price target on shares of Meta Platforms from $670.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Two 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $718.31.

Meta Platforms Stock Performance

Shares of META stock opened at $584.06 on Thursday. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The stock has a market cap of $1.48 trillion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 1.42 and a beta of 1.23. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The company’s fifty day moving average price is $656.27 and its 200-day moving average price is $604.69.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, topping 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 in the previous year, the business posted $5.33 EPS. On average, equities analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Friday, March 14th will be paid a $0.525 dividend. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a yield of 0.36%. 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.