Maj Invest Holding A S Reduces Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Maj Invest Holding A S decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 32.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 251,842 shares of the social networking company’s stock after selling 120,594 shares during the quarter. Meta Platforms comprises 3.8% of Maj Invest Holding A S’s holdings, making the stock its 17th largest position. Maj Invest Holding A S’s holdings in Meta Platforms were worth $144,165,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hilltop Wealth Advisors LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter valued at approximately $239,000. TAP Consulting LLC increased its stake in Meta Platforms by 3.8% during the third quarter. TAP Consulting LLC now owns 2,123 shares of the social networking company’s stock worth $1,215,000 after acquiring an additional 77 shares during the last quarter. Nvest Financial LLC raised its position in Meta Platforms by 9.2% in the third quarter. Nvest Financial LLC now owns 2,774 shares of the social networking company’s stock valued at $1,588,000 after purchasing an additional 234 shares during the period. Charles Schwab Trust Co lifted its stake in shares of Meta Platforms by 63.2% in the 3rd quarter. Charles Schwab Trust Co now owns 1,105 shares of the social networking company’s stock valued at $633,000 after purchasing an additional 428 shares during the last quarter. Finally, Fermata Advisors LLC grew its holdings in shares of Meta Platforms by 10.8% during the 3rd quarter. Fermata Advisors LLC now owns 2,532 shares of the social networking company’s stock worth $1,450,000 after purchasing an additional 247 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 492 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the transaction, the chief executive officer now owns 518,508 shares of the company’s stock, valued at $311,493,681. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 252,443 shares of company stock worth $133,105,284. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $589.95 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market cap of $1.49 trillion, a PE ratio of 30.11, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95. The stock has a fifty day moving average price of $538.12 and a 200 day moving average price of $505.52.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the company posted $3.23 EPS. Sell-side analysts forecast that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is currently 10.21%.

Wall Street Analyst Weigh In

A number of research firms have commented on META. Morgan Stanley upped their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Barclays increased their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Bank of America boosted their target price on Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Citigroup raised their price target on Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, Roth Mkm boosted their price objective on Meta Platforms from $550.00 to $620.00 and gave the company a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $609.71.

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.