CloudAlpha Capital Management Limited Hong Kong Has $17.29 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

CloudAlpha Capital Management Limited Hong Kong cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 43.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 48,848 shares of the social networking company’s stock after selling 37,452 shares during the quarter. Meta Platforms accounts for 1.6% of CloudAlpha Capital Management Limited Hong Kong’s investment portfolio, making the stock its 13th biggest position. CloudAlpha Capital Management Limited Hong Kong’s holdings in Meta Platforms were worth $17,290,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its position in shares of Meta Platforms by 33.8% in the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 223,612 shares of the social networking company’s stock valued at $79,150,000 after acquiring an additional 56,515 shares during the period. Oakworth Capital Inc. increased its position in Meta Platforms by 27.2% during the fourth quarter. Oakworth Capital Inc. now owns 467 shares of the social networking company’s stock worth $165,000 after buying an additional 100 shares during the last quarter. DecisionPoint Financial LLC lifted its position in shares of Meta Platforms by 31.4% in the fourth quarter. DecisionPoint Financial LLC now owns 854 shares of the social networking company’s stock valued at $302,000 after buying an additional 204 shares during the last quarter. KLCM Advisors Inc. boosted its stake in shares of Meta Platforms by 64.7% during the 4th quarter. KLCM Advisors Inc. now owns 2,332 shares of the social networking company’s stock worth $825,000 after acquiring an additional 916 shares during the period. Finally, Rakuten Securities Inc. acquired a new stake in Meta Platforms during the 4th quarter valued at $2,513,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $500.64 on Thursday. Meta Platforms, Inc. has a fifty-two week low of $207.13 and a fifty-two week high of $531.49. The stock’s 50 day simple moving average is $493.65 and its two-hundred day simple moving average is $396.70. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 33.17, a PEG ratio of 1.28 and a beta of 1.20.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Thursday, February 1st. The social networking company reported $5.33 EPS for the quarter, topping the consensus estimate of $4.82 by $0.51. The business had revenue of $40.11 billion for the quarter, compared to analyst estimates of $39.12 billion. Meta Platforms had a net margin of 28.98% and a return on equity of 29.48%. Meta Platforms’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.00 earnings per share. As a group, analysts expect that Meta Platforms, Inc. will post 20.06 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.40%. The ex-dividend date was Wednesday, February 21st. Meta Platforms’s dividend payout ratio is currently 13.42%.

Analyst Ratings Changes

Several research analysts have recently commented on META shares. Citigroup raised their target price on shares of Meta Platforms from $525.00 to $590.00 and gave the stock a “buy” rating in a report on Monday. Guggenheim raised their price target on Meta Platforms from $380.00 to $520.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Morgan Stanley upped their price objective on shares of Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. The Goldman Sachs Group raised their target price on shares of Meta Platforms from $500.00 to $555.00 and gave the company a “buy” rating in a report on Monday. Finally, Tigress Financial lifted their price objective on shares of Meta Platforms from $435.00 to $575.00 and gave the company a “strong-buy” rating in a research note on Friday, February 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $518.15.

Insider Activity

In other news, CTO Andrew Bosworth sold 8,036 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total transaction of $3,803,278.08. Following the completion of the transaction, the chief technology officer now directly owns 18,432 shares of the company’s stock, valued at $8,723,496.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Susan J. Li sold 10,956 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $473.28, for a total value of $5,185,255.68. Following the transaction, the chief financial officer now directly owns 76,398 shares in the company, valued at approximately $36,157,645.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Andrew Bosworth sold 8,036 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $473.28, for a total value of $3,803,278.08. Following the sale, the chief technology officer now owns 18,432 shares of the company’s stock, valued at approximately $8,723,496.96. The disclosure for this sale can be found here. Insiders have sold a total of 1,440,278 shares of company stock valued at $684,796,490 in the last 90 days. 13.75% of the stock is currently owned by insiders.

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.