UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $6.71 Billion Position in Meta Platforms, Inc. (NASDAQ:META)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Meta Platforms, Inc. (NASDAQ:META) by 7.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,726,951 shares of the social networking company’s stock after selling 983,326 shares during the period. Meta Platforms accounts for about 1.7% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings, making the stock its 5th biggest position. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.46% of Meta Platforms worth $6,712,976,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its stake in shares of Meta Platforms by 2.0% in the third quarter. Public Sector Pension Investment Board now owns 521,043 shares of the social networking company’s stock worth $298,266,000 after purchasing an additional 10,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Meta Platforms by 2.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 984,672 shares of the social networking company’s stock worth $563,666,000 after buying an additional 23,084 shares during the last quarter. MayTech Global Investments LLC boosted its stake in Meta Platforms by 10.7% in the third quarter. MayTech Global Investments LLC now owns 99,093 shares of the social networking company’s stock valued at $56,725,000 after acquiring an additional 9,614 shares during the last quarter. National Wealth Management Group LLC lifted its stake in Meta Platforms by 1.3% in the third quarter. National Wealth Management Group LLC now owns 5,568 shares of the social networking company’s stock valued at $3,188,000 after purchasing an additional 70 shares during the last quarter. Finally, FORA Capital LLC bought a new stake in shares of Meta Platforms in the third quarter valued at $1,744,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.8 %

Shares of META stock opened at $569.20 on Friday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The stock has a market capitalization of $1.44 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.25 and a beta of 1.22. The firm’s 50 day moving average is $574.75 and its 200 day moving average is $526.33.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts expect that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the transaction, the insider now owns 338,662 shares of the company’s stock, valued at $188,810,838.24. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $520.00, for a total transaction of $470,600.00. Following the completion of the sale, the insider now directly owns 38,722 shares of the company’s stock, valued at approximately $20,135,440. This trade represents a 2.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,239 shares of company stock worth $59,681,541 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on META shares. Deutsche Bank Aktiengesellschaft increased their price target on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JMP Securities upped their target price on Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Piper Sandler raised their price target on Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

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.