Investidor Profissional Gestao de Recursos Ltda. Cuts Holdings in Meta Platforms, Inc. (NASDAQ:META)

Investidor Profissional Gestao de Recursos Ltda. cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 23.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,849 shares of the social networking company’s stock after selling 6,613 shares during the quarter. Meta Platforms makes up 7.5% of Investidor Profissional Gestao de Recursos Ltda.’s portfolio, making the stock its largest holding. Investidor Profissional Gestao de Recursos Ltda.’s holdings in Meta Platforms were worth $12,793,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its stake in shares of Meta Platforms by 7.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,376,154 shares of the social networking company’s stock worth $1,391,262,000 after purchasing an additional 161,789 shares during the last quarter. Sit Investment Associates Inc. lifted its position in shares of Meta Platforms by 9.5% in the 4th quarter. Sit Investment Associates Inc. now owns 64,956 shares of the social networking company’s stock worth $38,032,000 after acquiring an additional 5,643 shares during the period. Katamaran Capital LLP bought a new position in shares of Meta Platforms during the 4th quarter worth about $7,308,000. Dynamic Technology Lab Private Ltd lifted its position in shares of Meta Platforms by 347.9% during the 4th quarter. Dynamic Technology Lab Private Ltd now owns 3,310 shares of the social networking company’s stock worth $1,938,000 after buying an additional 2,571 shares during the period. Finally, Gladstone Capital Management LLP bought a new position in Meta Platforms during the 4th quarter valued at about $76,877,000. 79.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 921 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $570.66, for a total value of $525,577.86. Following the completion of the transaction, the insider now directly owns 30,261 shares in the company, valued at $17,268,742.26. This represents a 2.95 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 4,706 shares of the firm’s stock in a transaction on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the transaction, the chief operating officer now directly owns 20,935 shares of the company’s stock, valued at $15,422,186.45. The trade was a 18.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 549,113 shares of company stock valued at $364,668,246. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $504.73 on Friday. 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 has a market cap of $1.28 trillion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a 12 month low of $414.50 and a 12 month high of $740.91. The company has a 50-day moving average price of $648.15 and a 200-day moving average price of $609.75.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share for the quarter, topping 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 prior year, the business posted $5.33 EPS. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current 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 paid a $0.525 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.10 annualized dividend and a dividend yield of 0.42%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s payout ratio is currently 8.78%.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent research reports. Susquehanna boosted their target price on Meta Platforms from $675.00 to $800.00 and gave the stock a “positive” rating in a research report on Thursday, January 30th. Morgan Stanley raised their price target on Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. UBS Group raised their target price on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and set a $790.00 price objective on shares of Meta Platforms in a research report on Wednesday. Finally, Barclays boosted their price objective on shares of Meta Platforms from $630.00 to $705.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Two equities research 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $718.55.

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.