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

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

Several other hedge funds have also added to or reduced their stakes in META. Evergreen Private Wealth LLC increased its holdings in shares of Meta Platforms by 237.5% in the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after buying an additional 38 shares during the period. Briaud Financial Planning Inc bought a new position in Meta Platforms during the 2nd quarter worth approximately $42,000. WFA Asset Management Corp increased its stake in Meta Platforms by 42.6% in the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after purchasing an additional 20 shares during the period. Maseco LLP purchased a new position in Meta Platforms in the 2nd quarter worth approximately $54,000. Finally, Piscataqua Savings Bank lifted its position in Meta Platforms by 433.3% in the second quarter. Piscataqua Savings Bank now owns 80 shares of the social networking company’s stock valued at $59,000 after purchasing an additional 65 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Activity at Meta Platforms

In other news, Director Robert M. Kimmitt sold 600 shares of Meta Platforms stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $609.35, for a total value of $365,610.00. Following the completion of the transaction, the director owned 7,347 shares of the company’s stock, valued at $4,476,894.45. The trade was a 7.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Andrew Bosworth sold 11,690 shares of the stock in a transaction dated Tuesday, November 18th. The shares were 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 in the company, valued at $1,432,843.65. This trade represents a 82.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 41,959 shares of company stock worth $26,671,107 over the last quarter. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 3.4%

Shares of Meta Platforms stock opened at $661.53 on Friday. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The firm has a market cap of $1.67 trillion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.34 and a beta of 1.28. The company has a 50-day moving average of $674.56 and a 200 day moving average of $705.81. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, topping analysts’ consensus estimates of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The business had revenue of $51.24 billion for the quarter, compared to analysts’ expectations of $49.34 billion. During the same quarter in the prior year, the company earned $6.03 earnings per share. The business’s revenue was up 26.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be given a dividend of $0.525 per share. 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 dividend payout ratio (DPR) is 9.28%.

Analyst Upgrades and Downgrades

META has been the topic of several recent analyst reports. Citizens Jmp restated an “outperform” rating and issued a $900.00 target price (up previously from $750.00) on shares of Meta Platforms in a report on Monday, November 24th. Wedbush reissued an “outperform” rating and set a $920.00 price target on shares of Meta Platforms in a research report on Thursday, October 30th. TD Cowen decreased their price objective on shares of Meta Platforms from $875.00 to $810.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Stifel Nicolaus lowered their price objective on shares of Meta Platforms from $900.00 to $875.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Finally, Mizuho dropped their target price on shares of Meta Platforms from $925.00 to $815.00 and set an “outperform” rating for the company in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $819.43.

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.