Arvin Capital Management LP Reduces Stake in Meta Platforms, Inc. $META

Arvin Capital Management LP lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 88.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,796 shares of the social networking company’s stock after selling 38,158 shares during the period. Meta Platforms accounts for 0.7% of Arvin Capital Management LP’s investment portfolio, making the stock its 25th biggest holding. Arvin Capital Management LP’s holdings in Meta Platforms were worth $3,540,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of META. Hel Ved Capital Management Ltd purchased a new stake in Meta Platforms in the second quarter worth $5,049,000. Columbus Hill Capital Management L.P. increased its holdings in Meta Platforms by 10.7% in the 2nd quarter. Columbus Hill Capital Management L.P. now owns 75,376 shares of the social networking company’s stock worth $55,634,000 after acquiring an additional 7,300 shares during the last quarter. MIG Capital LLC increased its holdings in Meta Platforms by 8.0% in the 2nd quarter. MIG Capital LLC now owns 79,453 shares of the social networking company’s stock worth $58,643,000 after acquiring an additional 5,896 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Meta Platforms in the 2nd quarter valued at about $1,360,000. Finally, Silphium Asset Management Ltd lifted its holdings in Meta Platforms by 6.9% during the second quarter. Silphium Asset Management Ltd now owns 9,590 shares of the social networking company’s stock valued at $7,078,000 after purchasing an additional 616 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 6,875 shares of the firm’s stock in a transaction on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total transaction of $4,190,037.50. Following the sale, the chief financial officer owned 88,370 shares in the company, valued at approximately $53,857,980.20. This trade represents a 7.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Andrew Bosworth sold 11,690 shares of Meta Platforms stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the sale, the chief technology officer directly owned 2,415 shares of the company’s stock, valued at $1,432,843.65. This represents a 82.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 41,959 shares of company stock worth $26,671,107. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $661.53 on Friday. The stock’s 50-day simple moving average is $674.56 and its two-hundred day simple moving average is $705.81. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The firm has a market capitalization of $1.67 trillion, a P/E ratio of 29.22, a P/E/G ratio of 1.34 and a beta of 1.28. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The firm had revenue of $51.24 billion during the quarter, compared to the consensus estimate of $49.34 billion. During the same quarter last year, the company posted $6.03 EPS. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms’s payout ratio is currently 9.28%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on META. TD Cowen reduced their target price on shares of Meta Platforms from $875.00 to $810.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $825.00 price objective (down from $900.00) on shares of Meta Platforms in a report on Thursday, October 30th. Benchmark lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Thursday, October 30th. Arete Research set a $718.00 target price on shares of Meta Platforms in a report on Thursday. Finally, Zacks Research downgraded Meta Platforms from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $819.43.

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.