Tobam Sells 2,513 Shares of Meta Platforms, Inc. (NASDAQ:META)

Tobam reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 41.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,558 shares of the social networking company’s stock after selling 2,513 shares during the period. Tobam’s holdings in Meta Platforms were worth $2,083,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in META. Ballentine Partners LLC raised its position in Meta Platforms by 1.4% in the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company’s stock worth $34,087,000 after acquiring an additional 808 shares during the period. UMB Bank n.a. raised its position in Meta Platforms by 0.6% in the fourth quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company’s stock worth $82,314,000 after acquiring an additional 897 shares during the period. Charles Schwab Investment Management Inc. raised its position in Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after acquiring an additional 118,298 shares during the period. LS Investment Advisors LLC raised its position in Meta Platforms by 111.4% in the third quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock worth $6,686,000 after acquiring an additional 6,155 shares during the period. Finally, Cutter & CO Brokerage Inc. raised its position in Meta Platforms by 0.7% in the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock worth $5,573,000 after acquiring an additional 65 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 19,668 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $721.69, for a total value of $14,194,198.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $2,918,698.12. Following the completion of the sale, the chief technology officer now owns 8,565 shares of the company’s stock, valued at approximately $4,943,375.40. This represents a 37.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 812,198 shares of company stock valued at $515,102,208 over the last three months. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

NASDAQ META opened at $725.38 on Thursday. The company has a market cap of $1.84 trillion, a P/E ratio of 30.33, a P/E/G ratio of 1.46 and a beta of 1.20. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.98 and a quick ratio of 2.98. The stock has a 50-day moving average of $634.08 and a two-hundred day moving average of $579.77. Meta Platforms, Inc. has a 1-year low of $414.50 and a 1-year high of $727.10.

Meta Platforms (NASDAQ:META) last released its earnings results 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 in the prior year, the company posted $5.33 earnings per share. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.66 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is 8.36%.

Analysts Set New Price Targets

META has been the topic of a number of recent research reports. Jefferies Financial Group upped their price target on shares of Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Wells Fargo & Company upped their price target on shares of Meta Platforms from $685.00 to $752.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Cantor Fitzgerald upped their price target on shares of Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Finally, Susquehanna upped their price target on shares of Meta Platforms from $675.00 to $800.00 and gave the company a “positive” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $717.90.

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.