Arvin Capital Management LP has reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by a significant **88.8%** during the second quarter of 2023. According to the firm’s recent **13F filing** with the **Securities and Exchange Commission (SEC)**, Arvin Capital now owns **4,796 shares** of the social networking giant after selling **38,158 shares** during this period. This reduction leaves Meta as just **0.7%** of Arvin Capital’s investment portfolio, making it the fund’s **25th largest holding**.
As of the latest filing, Arvin’s stake in Meta was valued at approximately **$3,540,000**. This move is part of a broader trend, as several other institutional investors have also adjusted their positions in Meta. For instance, **Hel Ved Capital Management Ltd** entered the scene with a new stake worth **$5,049,000** in the same quarter.
**Columbus Hill Capital Management L.P.** has increased its holdings in Meta by **10.7%**, now owning **75,376 shares** valued at **$55,634,000** after acquiring an additional **7,300 shares**. Similarly, **MIG Capital LLC** expanded its investment by **8.0%**, with a total of **79,453 shares** worth **$58,643,000** after purchasing **5,896 shares**. Other notable adjustments include **Pinpoint Asset Management Singapore Pte. Ltd.**, which bought a new stake estimated at **$1,360,000**, and **Silphium Asset Management Ltd.**, which lifted its holdings by **6.9%**, now owning **9,590 shares** valued at **$7,078,000**.
Institutional ownership of Meta Platforms remains high, with hedge funds and other institutions controlling **79.91%** of the company’s stock.
Insider Transactions Highlight Changes
In related news, insider trading activity has also been notable. Chief Financial Officer **Susan J. Li** sold **6,875 shares** on **November 15**, 2023, at an average price of **$609.46**, totaling over **$4.19 million**. Following this transaction, Li holds **88,370 shares** valued at approximately **$53,858,000**, reflecting a **7.22%** decrease in her ownership.
Additionally, Chief Technology Officer **Andrew Bosworth** sold **11,690 shares** on **November 18**, 2023, at an average price of **$593.31**, resulting in a total of nearly **$6.94 million**. After this sale, Bosworth owns **2,415 shares**, a significant **82.88%** reduction in his holdings. In total, insiders sold **41,959 shares** worth **$26,671,107** over the last quarter, with corporate insiders now holding **13.61%** of the company’s shares.
Market Performance and Future Outlook
Meta Platforms’ shares opened at **$661.53** on the most recent trading day. The stock has seen a **50-day simple moving average** of **$674.56** and a **200-day simple moving average** of **$705.81**. Over the past year, Meta’s shares have fluctuated between a low of **$479.80** and a high of **$796.25**. The company boasts a market capitalization of **$1.67 trillion**, with a **P/E ratio** of **29.22** and a **P/E/G ratio** of **1.34**.
Meta recently announced its quarterly earnings on **October 29, 2023**, reporting earnings of **$7.25 per share**, surpassing analyst expectations of **$6.74** by **$0.51**. The company achieved revenues of **$51.24 billion**, significantly above the consensus estimate of **$49.34 billion**, marking a **26.2% year-over-year increase**. Analysts forecast that Meta Platforms will achieve an earnings per share (EPS) of **26.7** for the current fiscal year.
Adding to the investor interest, the company declared a quarterly dividend of **$0.525** per share, scheduled for payment on **December 23, 2023**. Shareholders of record on **December 15, 2023**, will receive this dividend, translating to an annualized payout of **$2.10** and a yield of **0.3%**.
As analysts continue to assess Meta’s future prospects, recent evaluations have led to varied outlooks. **TD Cowen** adjusted its target price from **$875.00** to **$810.00**, maintaining a “buy” rating. **Raymond James Financial** reaffirmed a “strong-buy” rating with a target of **$825.00**, while **Benchmark** downgraded its rating from “buy” to “hold.”
Currently, analysts categorize Meta Platforms with a consensus rating of “Moderate Buy” and a price target averaging **$819.43**. With substantial institutional interest and mixed analyst sentiments, the future of Meta Platforms remains a focal point for investors navigating the evolving landscape of social media and technology.
