DT Investment Partners LLC Sells 388 Shares of Meta Platforms, Inc. (NASDAQ:META)

DT Investment Partners LLC lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,141 shares of the social networking company’s stock after selling 388 shares during the quarter. DT Investment Partners LLC’s holdings in Meta Platforms were worth $1,254,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. JDM Financial Group LLC acquired a new position in shares of Meta Platforms during the third quarter worth approximately $30,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Meta Platforms during the third quarter worth approximately $36,000. Avondale Wealth Management acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $41,000. Cordant Inc. acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $59,000. Finally, Reston Wealth Management LLC acquired a new position in shares of Meta Platforms during the third quarter worth approximately $61,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $694.84 on Friday. The stock has a market cap of $1.76 trillion, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 1.47 and a beta of 1.20. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.16. The stock’s 50-day moving average price is $645.83 and its two-hundred day moving average price is $589.12. Meta Platforms, Inc. has a 1 year low of $414.50 and a 1 year high of $740.91.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 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 company earned $5.33 EPS. On average, equities analysts predict that Meta Platforms, Inc. will post 26.66 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.30%. This is a positive change from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio (DPR) is currently 8.36%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,553 shares of the firm’s 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 directly owns 51,793 shares in the company, valued at $38,154,349.31. This trade represents a 14.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 19,668 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $703.21, for a total value of $13,830,734.28. The disclosure for this sale can be found here. Insiders have sold a total of 810,217 shares of company stock valued at $523,808,864 over the last 90 days. 13.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

META has been the subject of a number of research analyst reports. Piper Sandler upped their price target on Meta Platforms from $670.00 to $775.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Cantor Fitzgerald upped their target price on Meta Platforms from $720.00 to $790.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. Mizuho upped their target price on Meta Platforms from $675.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Pivotal Research upped their target price on Meta Platforms from $800.00 to $875.00 and gave the company a “buy” rating in a research note 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 assigned a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $717.90.

Meta Platforms Company 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.