Symmetry Partners LLC Reduces Position in Meta Platforms, Inc. (NASDAQ:META)

Symmetry Partners LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 10.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,831 shares of the social networking company’s stock after selling 3,753 shares during the quarter. Meta Platforms makes up about 1.2% of Symmetry Partners LLC’s portfolio, making the stock its 24th biggest position. Symmetry Partners LLC’s holdings in Meta Platforms were worth $15,942,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Baird Financial Group Inc. boosted its stake in shares of Meta Platforms by 24.2% during the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after purchasing an additional 163,067 shares during the period. California State Teachers Retirement System grew its stake in Meta Platforms by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after acquiring an additional 51,900 shares in the last quarter. Donoghue Forlines LLC grew its stake in Meta Platforms by 94.4% in the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock worth $2,955,000 after acquiring an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after acquiring an additional 32,423 shares during the period. Finally, Voyager Global Management LP raised its stake in shares of Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after acquiring an additional 140,000 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $507.00, for a total transaction of $248,430.00. Following the sale, the chief operating officer now owns 9,049 shares of the company’s stock, valued at approximately $4,587,843. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $503.34, for a total value of $8,406,784.68. Following the completion of the transaction, the chief executive officer now owns 275,297 shares of the company’s stock, valued at approximately $138,567,991.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 490 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $507.00, for a total value of $248,430.00. Following the completion of the sale, the chief operating officer now directly owns 9,049 shares in the company, valued at $4,587,843. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 391,071 shares of company stock valued at $192,834,857. 13.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Roth Mkm increased their price objective on Meta Platforms from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Sanford C. Bernstein dropped their price target on Meta Platforms from $590.00 to $565.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Loop Capital decreased their price objective on Meta Platforms from $555.00 to $550.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research report on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $510.41.

Read Our Latest Report on Meta Platforms

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $499.49 on Wednesday. The company has a 50 day simple moving average of $480.14 and a two-hundred day simple moving average of $444.30. The stock has a market cap of $1.27 trillion, a price-to-earnings ratio of 28.69, a PEG ratio of 1.31 and a beta of 1.21. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, analysts predict that Meta Platforms, Inc. will post 20.16 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Investors of record on Friday, June 14th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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