Sprucegrove Investment Management Ltd. Sells 400 Shares of Meta Platforms, Inc. (NASDAQ:META)

Sprucegrove Investment Management Ltd. trimmed its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 0.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,316 shares of the social networking company’s stock after selling 400 shares during the period. Meta Platforms makes up about 0.9% of Sprucegrove Investment Management Ltd.’s holdings, making the stock its 10th biggest position. Sprucegrove Investment Management Ltd.’s holdings in Meta Platforms were worth $21,349,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Stone House Investment Management LLC grew its stake in Meta Platforms by 625.0% in the third quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. Gilfoyle & Co LLC purchased a new position in Meta Platforms in the fourth quarter valued at about $39,000. Cranbrook Wealth Management LLC grew its stake in Meta Platforms by 80.4% in the fourth quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after purchasing an additional 45 shares in the last quarter. Beaird Harris Wealth Management LLC grew its stake in Meta Platforms by 68.9% in the third quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after purchasing an additional 42 shares in the last quarter. Finally, Stephens Investment Management Group LLC purchased a new position in Meta Platforms in the second quarter valued at about $30,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on META shares. UBS Group boosted their target price on Meta Platforms from $425.00 to $530.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Wells Fargo & Company decreased their price target on Meta Platforms from $609.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, April 3rd. Tigress Financial upped their price target on Meta Platforms from $435.00 to $575.00 and gave the stock a “strong-buy” rating in a research note on Friday, February 9th. Piper Sandler upped their price target on Meta Platforms from $525.00 to $600.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Monness Crespi & Hardt upped their price target on Meta Platforms from $370.00 to $540.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $502.75.

Check Out Our Latest Stock Analysis on META

Meta Platforms Price Performance

Shares of META traded down $11.26 during mid-day trading on Friday, reaching $511.90. The company had a trading volume of 11,984,535 shares, compared to its average volume of 12,512,066. Meta Platforms, Inc. has a twelve month low of $207.13 and a twelve month high of $531.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.67 and a quick ratio of 2.67. The company’s 50-day moving average is $491.44 and its 200-day moving average is $392.56. The company has a market capitalization of $1.31 trillion, a P/E ratio of 34.36, a P/E/G ratio of 1.31 and a beta of 1.20.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.82 by $0.51. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The business had revenue of $40.11 billion during the quarter, compared to analysts’ expectations of $39.12 billion. During the same period in the prior year, the firm posted $3.00 EPS. Meta Platforms’s quarterly revenue was up 24.7% compared to the same quarter last year. On average, equities analysts anticipate that Meta Platforms, Inc. will post 20.06 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were issued a dividend of $0.50 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. Meta Platforms’s dividend payout ratio is 13.42%.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 10,956 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total transaction of $5,185,255.68. Following the completion of the sale, the chief financial officer now directly owns 76,398 shares of the company’s stock, valued at approximately $36,157,645.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $373.58, for a total value of $211,446.28. Following the transaction, the insider now directly owns 35,852 shares in the company, valued at approximately $13,393,590.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Susan J. Li sold 10,956 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $5,185,255.68. Following the completion of the transaction, the chief financial officer now owns 76,398 shares in the company, valued at $36,157,645.44. The disclosure for this sale can be found here. Insiders sold 1,460,035 shares of company stock valued at $691,937,607 in the last three months. Corporate insiders own 13.75% of the company’s stock.

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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