Crew Capital Management Ltd. Sells 187 Shares of Meta Platforms, Inc. (NASDAQ:META)

Crew Capital Management Ltd. lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,171 shares of the social networking company’s stock after selling 187 shares during the period. Crew Capital Management Ltd.’s holdings in Meta Platforms were worth $414,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Meta Platforms by 1.0% in the third quarter. Vanguard Group Inc. now owns 183,244,796 shares of the social networking company’s stock valued at $55,011,920,000 after buying an additional 1,733,182 shares in the last quarter. FMR LLC boosted its position in Meta Platforms by 4.0% in the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock valued at $39,270,443,000 after buying an additional 5,001,647 shares in the last quarter. Morgan Stanley boosted its position in Meta Platforms by 3.4% in the third quarter. Morgan Stanley now owns 36,277,772 shares of the social networking company’s stock valued at $10,890,950,000 after buying an additional 1,184,978 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Meta Platforms by 4.3% during the third quarter. Northern Trust Corp now owns 23,003,927 shares of the social networking company’s stock worth $6,906,009,000 after purchasing an additional 946,871 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,143,462 shares of the social networking company’s stock worth $3,945,799,000 after purchasing an additional 111,735 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Rosenblatt Securities lifted their price target on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday. Monness Crespi & Hardt lifted their price target on shares of Meta Platforms from $370.00 to $540.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Mizuho lifted their price target on shares of Meta Platforms from $470.00 to $575.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. BMO Capital Markets lifted their price target on shares of Meta Platforms from $397.00 to $450.00 and gave the stock a “market perform” rating in a report on Friday, February 2nd. Finally, Truist Financial cut their price target on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $509.18.

Meta Platforms Stock Down 2.4 %

META stock traded down $10.67 during trading on Monday, reaching $432.62. The stock had a trading volume of 21,469,047 shares, compared to its average volume of 18,429,973. Meta Platforms, Inc. has a one year low of $229.85 and a one year high of $531.49. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $494.48 and its two-hundred day moving average is $405.39. The company has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 1.15 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to the consensus estimate of $36.28 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 20.2 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Wednesday, February 21st. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the business’s stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total value of $305,370.00. Following the transaction, the insider now directly owns 38,398 shares in the company, valued at $20,043,756. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Nicholas Clegg sold 2,025 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $958,392.00. Following the sale, the insider now directly owns 10,053 shares in the company, valued at approximately $4,757,883.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $522.00, for a total transaction of $305,370.00. Following the sale, the insider now owns 38,398 shares in the company, valued at $20,043,756. The disclosure for this sale can be found here. Insiders have sold a total of 1,277,048 shares of company stock worth $620,679,759 over the last three months. 13.71% of the stock is currently owned by insiders.

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.