AMI Investment Management Inc. Cuts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

AMI Investment Management Inc. decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,827 shares of the social networking company’s stock after selling 1,676 shares during the period. Meta Platforms comprises approximately 1.8% of AMI Investment Management Inc.’s investment portfolio, making the stock its 15th largest holding. AMI Investment Management Inc.’s holdings in Meta Platforms were worth $4,540,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Stone House Investment Management LLC increased its stake in Meta Platforms by 625.0% during the 3rd quarter. Stone House Investment Management LLC now owns 87 shares of the social networking company’s stock worth $26,000 after buying an additional 75 shares in the last quarter. MBM Wealth Consultants LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth approximately $26,000. Stephens Investment Management Group LLC purchased a new stake in shares of Meta Platforms during the second quarter worth approximately $30,000. Beaird Harris Wealth Management LLC raised its stake in Meta Platforms by 68.9% in the 3rd 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 during the last quarter. Finally, PayPay Securities Corp lifted its holdings in Meta Platforms by 65.2% in the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Down 1.7 %

META traded down $8.28 on Thursday, reaching $485.58. 15,191,214 shares of the company’s stock were exchanged, compared to its average volume of 17,907,553. The company has a market cap of $1.24 trillion, a price-to-earnings ratio of 32.84, a PEG ratio of 1.28 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. Meta Platforms, Inc. has a twelve month low of $202.54 and a twelve month high of $523.57. The company’s 50 day moving average is $464.84 and its 200-day moving average is $375.30.

Meta Platforms (NASDAQ:META) last issued its earnings results on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. The business had revenue of $40.11 billion for the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. The business’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.00 EPS. Equities analysts predict that Meta Platforms, Inc. will post 19.94 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is presently 13.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 566 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $351.55, for a total value of $198,977.30. Following the completion of the sale, the insider now owns 36,984 shares of the company’s stock, valued at $13,001,725.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jennifer Newstead sold 566 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $351.55, for a total transaction of $198,977.30. Following the completion of the sale, the insider now owns 36,984 shares of the company’s stock, valued at $13,001,725.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $488.03, for a total transaction of $239,134.70. Following the completion of the sale, the chief operating officer now owns 79,944 shares in the company, valued at approximately $39,015,070.32. The disclosure for this sale can be found here. Insiders sold 1,504,435 shares of company stock valued at $703,629,367 over the last quarter. Company insiders own 13.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Morgan Stanley increased their target price on shares of Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Barclays raised their target price on shares of Meta Platforms from $400.00 to $550.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Raymond James upped their price target on Meta Platforms from $450.00 to $550.00 and gave the company a “strong-buy” rating in a research report on Friday, February 2nd. Guggenheim lifted their price objective on Meta Platforms from $380.00 to $520.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Roth Mkm restated a “buy” rating and issued a $500.00 target price on shares of Meta Platforms in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $496.35.

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.