Artemis Investment Management LLP Reduces Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

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Artemis Investment Management LLP cut its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 18.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,696 shares of the social networking company’s stock after selling 50,507 shares during the period. Meta Platforms makes up approximately 1.9% of Artemis Investment Management LLP’s holdings, making the stock its 5th biggest position. Artemis Investment Management LLP’s holdings in Meta Platforms were worth $135,075,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of META. Steigerwald Gordon & Koch Inc. lifted its stake in shares of Meta Platforms by 0.6% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 2,680 shares of the social networking company’s stock valued at $1,569,000 after buying an additional 17 shares during the period. Arbor Trust Wealth Advisors LLC raised its holdings in Meta Platforms by 7.0% in the 4th quarter. Arbor Trust Wealth Advisors LLC now owns 2,813 shares of the social networking company’s stock valued at $1,647,000 after acquiring an additional 185 shares in the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth approximately $205,000. Oak Ridge Investments LLC grew its holdings in shares of Meta Platforms by 6.2% during the 4th quarter. Oak Ridge Investments LLC now owns 81,381 shares of the social networking company’s stock worth $47,649,000 after purchasing an additional 4,766 shares in the last quarter. Finally, Aaron Wealth Advisors LLC increased its position in shares of Meta Platforms by 7.1% during the fourth quarter. Aaron Wealth Advisors LLC now owns 11,624 shares of the social networking company’s stock valued at $6,806,000 after purchasing an additional 766 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Nicholas Clegg sold 7,296 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the completion of the sale, the insider now owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This represents a 15.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $574.16, for a total transaction of $237,128.08. Following the sale, the chief operating officer now owns 10,707 shares in the company, valued at approximately $6,147,531.12. The trade was a 3.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 531,190 shares of company stock valued at $322,938,501. 13.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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A number of research firms have weighed in on META. Morgan Stanley lifted their price target on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Raymond James upped their target price on shares of Meta Platforms from $675.00 to $725.00 and gave the company a “strong-buy” rating in a research note on Tuesday. Bank of America raised their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Roth Mkm upped their price objective on Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Pivotal Research raised their target price on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $651.27.

Check Out Our Latest Research Report on Meta Platforms

Meta Platforms Price Performance

Shares of META opened at $616.46 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.56 trillion, a P/E ratio of 29.04, a price-to-earnings-growth ratio of 1.16 and a beta of 1.19. The stock’s 50-day moving average price is $598.00 and its two-hundred day moving average price is $558.31. Meta Platforms, Inc. has a 1 year low of $381.16 and a 1 year high of $638.40.

Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, equities analysts predict that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

About Meta Platforms

(Free Report)

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.