New York Life Investment Management LLC Has $112.23 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

New York Life Investment Management LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 317,066 shares of the social networking company’s stock after selling 2,868 shares during the quarter. Meta Platforms makes up approximately 1.2% of New York Life Investment Management LLC’s holdings, making the stock its 16th largest holding. New York Life Investment Management LLC’s holdings in Meta Platforms were worth $112,229,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of META. Stone House Investment Management LLC raised its position in shares of 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 valued at $26,000 after acquiring an additional 75 shares during the last quarter. Beaird Harris Wealth Management LLC raised its position in shares of Meta Platforms by 68.9% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 103 shares of the social networking company’s stock valued at $31,000 after acquiring an additional 42 shares during the last quarter. PayPay Securities Corp raised its position in shares of Meta Platforms by 65.2% during the 3rd quarter. PayPay Securities Corp now owns 109 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 43 shares during the last quarter. Cranbrook Wealth Management LLC raised its position in shares of Meta Platforms by 80.4% during the 4th quarter. Cranbrook Wealth Management LLC now owns 101 shares of the social networking company’s stock valued at $36,000 after acquiring an additional 45 shares during the last quarter. Finally, Gilfoyle & Co LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at $39,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock traded up $9.02 during mid-day trading on Wednesday, reaching $439.19. The company had a trading volume of 20,287,668 shares, compared to its average volume of 18,452,576. Meta Platforms, Inc. has a fifty-two week low of $229.85 and a fifty-two week high of $531.49. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.12 trillion, a P/E ratio of 25.36, a P/E/G ratio of 1.12 and a beta of 1.20. The business has a fifty day simple moving average of $492.83 and a 200 day simple moving average of $406.97.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, equities research analysts predict that Meta Platforms, Inc. will post 20.17 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Stockholders 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 dividend yield of 0.46%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 552 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $464.00, for a total transaction of $256,128.00. Following the sale, the insider now owns 34,168 shares of the company’s stock, valued at $15,853,952. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 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 owns 34,168 shares in the company, valued at $15,853,952. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 owns 6,599 shares in the company, valued at approximately $2,913,722.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,257,291 shares of company stock worth $612,916,087. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Meta Platforms from $535.00 to $480.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. Stifel Nicolaus upped their price objective on shares of Meta Platforms from $527.00 to $588.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Monday, April 22nd. Monness Crespi & Hardt increased their target price on Meta Platforms from $370.00 to $540.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Wolfe Research lowered their target price on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $513.55.

About Meta Platforms

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.