Telemus Capital LLC Has $3.63 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Telemus Capital LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,241 shares of the social networking company’s stock after selling 560 shares during the quarter. Telemus Capital LLC’s holdings in Meta Platforms were worth $3,625,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. FMR LLC raised 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 purchasing an additional 5,001,647 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Meta Platforms by 11,154.4% during 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 acquiring an additional 4,908,251 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Meta Platforms by 55.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,632,631 shares of the social networking company’s stock worth $2,591,602,000 after acquiring an additional 3,093,715 shares during the last quarter. Cerity Partners LLC raised its position in shares of Meta Platforms by 1,457.5% during the fourth quarter. Cerity Partners LLC now owns 3,156,360 shares of the social networking company’s stock worth $1,117,225,000 after acquiring an additional 2,953,704 shares during the last quarter. Finally, Lone Pine Capital LLC bought a new position in shares of Meta Platforms during the third quarter worth about $834,315,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $498.59, for a total transaction of $291,675.15. Following the transaction, the insider now directly owns 37,813 shares in the company, valued at approximately $18,853,183.67. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $498.59, for a total transaction of $291,675.15. Following the transaction, the insider now directly owns 37,813 shares in the company, valued at approximately $18,853,183.67. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $395.00, for a total value of $1,777,500.00. Following the transaction, the chief operating officer now owns 75,435 shares in the company, valued at $29,796,825. The disclosure for this sale can be found here. Insiders have sold a total of 1,391,935 shares of company stock worth $666,288,408 in the last ninety days. 14.03% of the stock is owned by insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $481.73 on Tuesday. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $1.23 trillion, a PE ratio of 32.33, a price-to-earnings-growth ratio of 1.22 and a beta of 1.20. The business’s 50-day moving average price is $494.81 and its 200-day moving average price is $401.23. Meta Platforms, Inc. has a 12 month low of $207.13 and a 12 month high of $531.49.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, beating the consensus estimate of $4.82 by $0.51. The firm had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. The company’s revenue was up 24.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.00 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 20.18 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Investors of record on Thursday, February 22nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.00 annualized dividend and a yield of 0.42%. Meta Platforms’s payout ratio is 13.42%.

Analysts Set New Price Targets

Several research firms recently commented on META. Evercore ISI raised their target price on Meta Platforms from $425.00 to $550.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Sanford C. Bernstein raised their target price on Meta Platforms from $535.00 to $590.00 and gave the stock an “outperform” rating in a research note on Thursday, April 18th. Jefferies Financial Group raised their price objective on Meta Platforms from $550.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Morgan Stanley boosted their price objective on Meta Platforms from $375.00 to $550.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Finally, KeyCorp decreased their price objective on Meta Platforms from $575.00 to $555.00 and set an “overweight” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $520.28.

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.