DeDora Capital Inc. Sells 604 Shares of Meta Platforms, Inc. (NASDAQ:META)

DeDora Capital Inc. lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 9.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,544 shares of the social networking company’s stock after selling 604 shares during the quarter. Meta Platforms accounts for approximately 0.9% of DeDora Capital Inc.’s portfolio, making the stock its 29th largest holding. DeDora Capital Inc.’s holdings in Meta Platforms were worth $2,692,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of META. Norges Bank bought a new position in shares of Meta Platforms during the fourth quarter valued at about $11,285,855,000. FMR LLC grew its stake in shares of Meta Platforms by 4.0% in the third quarter. FMR LLC now owns 130,809,908 shares of the social networking company’s stock worth $39,270,443,000 after purchasing an additional 5,001,647 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Meta Platforms by 11,154.4% in the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after purchasing an additional 4,908,251 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares during the last quarter. Finally, Concentrum Wealth Management grew its stake in shares of Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

Shares of NASDAQ META traded up $10.28 during mid-day trading on Friday, hitting $451.96. 16,489,057 shares of the company’s stock traded hands, compared to its average volume of 20,698,000. The company’s 50-day moving average is $490.72 and its two-hundred day moving average is $408.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The company has a market capitalization of $1.15 trillion, a P/E ratio of 25.96, a PEG ratio of 1.15 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $229.85 and a 1 year high of $531.49.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, equities analysts anticipate that Meta Platforms, Inc. will post 20.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on META shares. The Goldman Sachs Group lowered their price objective on shares of Meta Platforms from $555.00 to $500.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Truist Financial lowered their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating for the company in a report on Thursday, April 25th. UBS Group lowered their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. BNP Paribas began coverage on shares of Meta Platforms in a research report on Thursday. They set an “underperform” rating and a $360.00 price target for the company. Finally, Morgan Stanley raised their price target 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. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $509.80.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 552 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total transaction of $256,128.00. Following the transaction, the insider now directly owns 34,168 shares in the company, valued at approximately $15,853,952. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Javier Olivan sold 490 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $441.54, for a total transaction of $216,354.60. Following the transaction, the chief operating officer now directly owns 6,599 shares in the company, valued at approximately $2,913,722.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 552 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $464.00, for a total transaction of $256,128.00. Following the completion of the transaction, the insider now owns 34,168 shares in the company, valued at $15,853,952. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,257,876 shares of company stock worth $613,168,252. Insiders own 13.71% of the company’s stock.

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.