Intech Investment Management LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 13.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 472,916 shares of the social networking company’s stock after selling 73,875 shares during the quarter. Meta Platforms comprises approximately 3.0% of Intech Investment Management LLC’s holdings, making the stock its 5th largest position. Intech Investment Management LLC’s holdings in Meta Platforms were worth $270,716,000 at the end of the most recent quarter.
Other large investors have also bought and sold shares of the company. POM Investment Strategies LLC bought a new position in shares of Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. grew its position in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the last quarter. Halpern Financial Inc. bought a new position in shares of Meta Platforms in the third quarter valued at $46,000. West Financial Advisors LLC acquired a new stake in shares of Meta Platforms during the 3rd quarter valued at $49,000. Finally, NewSquare Capital LLC boosted its stake in shares of Meta Platforms by 221.9% during the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after acquiring an additional 71 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have issued reports on META. UBS Group boosted their price objective on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Raymond James upped their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Sanford C. Bernstein boosted their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. JMP Securities raised their target price on Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $670.00 price target on shares of Meta Platforms in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $634.10.
Insider Activity
In related news, COO Javier Olivan sold 620 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $345,340.00. Following the completion of the transaction, the chief operating officer now directly owns 19,992 shares of the company’s stock, valued at $11,135,544. This trade represents a 3.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,843 shares of company stock valued at $92,083,554. Insiders own 13.71% of the company’s stock.
Meta Platforms Price Performance
Shares of NASDAQ:META opened at $559.14 on Friday. The company has a market cap of $1.41 trillion, a price-to-earnings ratio of 26.34, a PEG ratio of 1.24 and a beta of 1.22. The business has a 50 day moving average price of $572.74 and a 200 day moving average price of $523.96. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95.
Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Research analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s payout ratio is 9.42%.
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.
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