Meta Platforms, Inc. (NASDAQ:META) Stock Position Lifted by Columbus Hill Capital Management L.P.

Columbus Hill Capital Management L.P. increased its position in Meta Platforms, Inc. (NASDAQ:META) by 64.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,826 shares of the social networking company’s stock after acquiring an additional 34,476 shares during the quarter. Meta Platforms comprises approximately 10.0% of Columbus Hill Capital Management L.P.’s holdings, making the stock its biggest position. Columbus Hill Capital Management L.P.’s holdings in Meta Platforms were worth $51,423,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in shares of Meta Platforms by 0.4% in the fourth quarter. Quadrant Capital Group LLC now owns 24,089 shares of the social networking company’s stock worth $14,104,000 after purchasing an additional 95 shares in the last quarter. Cascades Capital Asset Management LLC boosted its holdings in Meta Platforms by 2.3% in the 4th quarter. Cascades Capital Asset Management LLC now owns 4,056 shares of the social networking company’s stock worth $2,375,000 after buying an additional 91 shares during the period. Ilmarinen Mutual Pension Insurance Co increased its stake in Meta Platforms by 37.0% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 351,500 shares of the social networking company’s stock worth $205,807,000 after buying an additional 95,000 shares in the last quarter. Nutshell Asset Management Ltd bought a new stake in Meta Platforms during the fourth quarter valued at about $7,004,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Meta Platforms by 12.4% in the fourth quarter. Russell Investments Group Ltd. now owns 2,621,597 shares of the social networking company’s stock valued at $1,535,798,000 after acquiring an additional 290,218 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other news, CFO Susan J. Li sold 8,553 shares of Meta Platforms stock in a transaction that occurred on Saturday, February 15th. The shares were sold at an average price of $736.67, for a total value of $6,300,738.51. Following the transaction, the chief financial officer now owns 51,793 shares of the company’s stock, valued at $38,154,349.31. The trade was a 14.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $631.55, for a total transaction of $571,552.75. Following the sale, the insider now directly owns 32,010 shares of the company’s stock, valued at $20,215,915.50. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 549,113 shares of company stock worth $364,668,246. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 5.1 %

META opened at $504.73 on Friday. Meta Platforms, Inc. has a 52 week low of $414.50 and a 52 week high of $740.91. The company has a market capitalization of $1.28 trillion, a P/E ratio of 21.10, a PEG ratio of 1.42 and a beta of 1.28. The stock’s fifty day moving average is $648.15 and its two-hundred day moving average is $610.27. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, January 29th. The social networking company reported $8.02 EPS for the quarter, beating the consensus estimate 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 last year, the company earned $5.33 EPS. Analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Friday, March 14th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Friday, March 14th. This is a boost from Meta Platforms’s previous quarterly dividend of $0.50. Meta Platforms’s dividend payout ratio is presently 8.78%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on META shares. Tigress Financial reiterated a “strong-buy” rating on shares of Meta Platforms in a research report on Tuesday, February 11th. Raymond James reiterated a “strong-buy” rating and set a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms in a research report on Thursday, January 30th. DA Davidson upped their target price on shares of Meta Platforms from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $790.00 price target on shares of Meta Platforms in a report on Wednesday. Finally, Piper Sandler increased their price objective on shares of Meta Platforms from $670.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $718.55.

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.