Knightsbridge Asset Management LLC Has $982,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Knightsbridge Asset Management LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,678 shares of the social networking company’s stock after purchasing an additional 121 shares during the quarter. Knightsbridge Asset Management LLC’s holdings in Meta Platforms were worth $982,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in META. Seelaus Asset Management LLC grew its position in shares of Meta Platforms by 0.9% during the 4th quarter. Seelaus Asset Management LLC now owns 1,640 shares of the social networking company’s stock valued at $960,000 after purchasing an additional 15 shares in the last quarter. Meredith Wealth Planning grew its stake in Meta Platforms by 0.8% in the fourth quarter. Meredith Wealth Planning now owns 1,873 shares of the social networking company’s stock worth $1,097,000 after purchasing an additional 15 shares during the period. Maiden Cove Capital LLC boosted its holdings in Meta Platforms by 3.2% in the fourth quarter. Maiden Cove Capital LLC now owns 481 shares of the social networking company’s stock worth $282,000 after acquiring an additional 15 shares in the last quarter. Riverwater Partners LLC raised its position in Meta Platforms by 2.7% in the 4th quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock worth $335,000 after buying an additional 15 shares during the last quarter. Finally, Stephens Consulting LLC increased its position in shares of Meta Platforms by 5.3% during the 4th quarter. Stephens Consulting LLC now owns 317 shares of the social networking company’s stock valued at $186,000 after purchasing an additional 16 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $533.15 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.98 and a current ratio of 2.98. The stock has a 50 day moving average price of $590.37 and a two-hundred day moving average price of $604.75. The company has a market capitalization of $1.35 trillion, a P/E ratio of 22.29, a PEG ratio of 1.42 and a beta of 1.28. Meta Platforms, Inc. has a fifty-two week low of $414.50 and a fifty-two week high of $740.91.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, January 29th. The social networking company reported $8.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.75 by $1.27. Meta Platforms had a return on equity of 38.17% and a net margin of 37.91%. During the same quarter in the previous year, the business earned $5.33 earnings per share. Analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.39%. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, March 14th. Meta Platforms’s payout ratio is 8.78%.

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 4,706 shares of Meta Platforms stock in a transaction on Saturday, February 15th. The stock was sold at an average price of $736.67, for a total transaction of $3,466,769.02. Following the completion of the sale, the chief operating officer now directly owns 20,935 shares of the company’s stock, valued at $15,422,186.45. The trade was a 18.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 921 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $491.87, for a total transaction of $453,012.27. Following the sale, the insider now directly owns 27,498 shares of the company’s stock, valued at approximately $13,525,441.26. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 308,068 shares of company stock worth $214,968,924. 13.71% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

META has been the topic of a number of recent analyst reports. KeyCorp decreased their price target on Meta Platforms from $710.00 to $645.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. UBS Group decreased their price objective on shares of Meta Platforms from $786.00 to $650.00 and set a “buy” rating for the company in a report on Friday, April 11th. Royal Bank of Canada boosted their price target on Meta Platforms from $700.00 to $800.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company lifted their target price on shares of Meta Platforms from $685.00 to $752.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Pivotal Research raised their price objective on shares of Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $676.55.

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.