Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 4.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,461,224 shares of the social networking company’s stock after selling 233,536 shares during the period. Meta Platforms accounts for approximately 2.6% of Clearbridge Investments LLC’s portfolio, making the stock its 5th largest position. Clearbridge Investments LLC owned 0.22% of Meta Platforms worth $3,197,601,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. JDM Financial Group LLC bought a new stake in Meta Platforms in the 3rd quarter valued at about $30,000. Safe Harbor Fiduciary LLC bought a new position in Meta Platforms during the third quarter valued at about $36,000. Millstone Evans Group LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $40,000. Avondale Wealth Management bought a new stake in Meta Platforms in the 4th quarter valued at about $41,000. Finally, WealthTrak Capital Management LLC bought a new stake in Meta Platforms during the 4th quarter valued at $43,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

Shares of META stock opened at $576.74 on Friday. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The firm has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 24.11, a PEG ratio of 1.42 and a beta of 1.23. The stock has a fifty day moving average of $655.23 and a 200 day moving average of $609.21. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) 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 last year, the business posted $5.33 earnings per share. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Friday, March 14th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.36%. This is an increase from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date was Friday, March 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 8.78%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $591.76, for a total value of $535,542.80. Following the transaction, the insider now directly owns 32,915 shares in the company, valued at approximately $19,477,780.40. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $589.16, for a total value of $243,323.08. Following the sale, the chief operating officer now directly owns 17,514 shares of the company’s stock, valued at $10,318,548.24. This represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 584,823 shares of company stock valued at $386,274,777. 13.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on META shares. Wedbush restated an “outperform” rating and issued a $770.00 target price (up previously from $700.00) on shares of Meta Platforms in a research note on Thursday, January 30th. UBS Group boosted their price objective on shares of Meta Platforms from $736.00 to $786.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. The Goldman Sachs Group increased their target price on shares of Meta Platforms from $688.00 to $765.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Piper Sandler boosted their price target on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Bank of America lifted their price objective on Meta Platforms from $710.00 to $765.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Two investment 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 company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $718.31.

Meta Platforms 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.