TBH Global Asset Management LLC Decreases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

TBH Global Asset Management LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 1.6% during the 4th quarter, Holdings Channel reports. The firm owned 9,018 shares of the social networking company’s stock after selling 145 shares during the quarter. Meta Platforms comprises about 1.3% of TBH Global Asset Management LLC’s holdings, making the stock its 15th biggest position. TBH Global Asset Management LLC’s holdings in Meta Platforms were worth $5,280,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. JDM Financial Group LLC acquired a new stake in Meta Platforms during the 3rd quarter valued at $30,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Meta Platforms in the third quarter valued at $36,000. Avondale Wealth Management acquired a new stake in shares of Meta Platforms during the fourth quarter valued at $41,000. Cordant Inc. acquired a new stake in shares of Meta Platforms during the fourth quarter valued at $59,000. Finally, Reston Wealth Management LLC purchased a new stake in Meta Platforms during the 3rd quarter worth about $61,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 55,589 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $717.72, for a total transaction of $39,897,337.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,553 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total value of $6,300,738.51. Following the completion of the transaction, the chief financial officer now owns 51,793 shares of the company’s stock, valued at approximately $38,154,349.31. The trade was a 14.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 812,422 shares of company stock valued at $525,534,818. 13.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on META shares. UBS Group raised their price target on shares of Meta Platforms from $736.00 to $786.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Jefferies Financial Group raised their target price on shares of Meta Platforms from $675.00 to $715.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada boosted their price target on Meta Platforms from $700.00 to $800.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Scotiabank raised their price objective on Meta Platforms from $583.00 to $627.00 and gave the stock a “sector perform” rating in a report on Thursday, January 30th. Finally, Barclays upped their target price on Meta Platforms from $630.00 to $705.00 and gave the company an “overweight” 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 given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $719.26.

Meta Platforms Stock Performance

Meta Platforms stock opened at $657.50 on Wednesday. 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 firm’s fifty day moving average price is $648.73 and its 200 day moving average price is $594.06. The company has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 1.42 and a beta of 1.20. Meta Platforms, Inc. has a 12-month low of $414.50 and a 12-month high of $740.91.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) 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 last year, the business earned $5.33 EPS. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.525 per share. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. This represents a $2.10 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Friday, March 14th. Meta Platforms’s dividend payout ratio is 8.78%.

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.