BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 677,012 shares of the social networking company's stock after buying an additional 51,222 shares during the period. Meta Platforms accounts for 1.0% of BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s portfolio, making the stock its 13th biggest holding. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Meta Platforms were worth $387,549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in META. POM Investment Strategies LLC purchased a new position in Meta Platforms in the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. lifted its holdings in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock worth $40,000 after purchasing an additional 44 shares in the last quarter. Halpern Financial Inc. purchased a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $46,000. West Financial Advisors LLC purchased a new stake in shares of Meta Platforms during the 3rd quarter worth approximately $49,000. Finally, NewSquare Capital LLC raised its holdings 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. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 0.7 %

NASDAQ META traded down $3.95 during trading on Friday, hitting $559.14. The company's stock had a trading volume of 9,164,004 shares, compared to its average volume of 13,967,285. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company has a market cap of $1.41 trillion, a PE ratio of 26.34, a P/E/G ratio of 1.25 and a beta of 1.22. The business's 50 day simple moving average is $572.74 and its 200-day simple moving average is $523.96. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $40.59 billion during the quarter, compared to analysts' expectations of $40.21 billion. On average, equities analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms's payout ratio is 9.42%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Hsbc Global Res raised Meta Platforms to a "hold" rating in a report on Thursday, October 24th. Needham & Company LLC reaffirmed an "underperform" rating on shares of Meta Platforms in a report on Thursday, October 31st. Wedbush reaffirmed an "outperform" rating and set a $600.00 price objective on shares of Meta Platforms in a report on Thursday, September 26th. Evercore ISI upped their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, August 1st. Finally, Susquehanna upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a "positive" rating in a report on Thursday, October 31st. Two equities research 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 assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $634.10.

Insider Transactions at Meta Platforms

In other news, CAO Aaron Anderson sold 731 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $577.16, for a total value of $2,918,698.12. Following the transaction, the chief technology officer now owns 8,565 shares of the company's stock, valued at approximately $4,943,375.40. This represents a 37.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,843 shares of company stock worth $92,083,554 over the last three months. 13.71% of the stock is currently owned by insiders.

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.