Intech Investment Management LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 portfolio, making the stock its 5th biggest holding. Intech Investment Management LLC's holdings in Meta Platforms were worth $270,716,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms during the second quarter valued at $38,000. Ruedi Wealth Management Inc. boosted its stake in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock valued at $40,000 after acquiring an additional 44 shares during the last quarter. Halpern Financial Inc. acquired a new stake in shares of Meta Platforms during the third quarter valued at $46,000. West Financial Advisors LLC acquired a new stake in shares of Meta Platforms during the third quarter valued at $49,000. Finally, NewSquare Capital LLC boosted its stake in shares of Meta Platforms by 221.9% during the second quarter. NewSquare Capital LLC now owns 103 shares of the social networking company's stock valued at $52,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Insider Activity at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $519.05, for a total transaction of $469,740.25. Following the completion of the transaction, the insider now owns 39,627 shares in the company, valued at approximately $20,568,394.35. The trade was a 2.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 620 shares of the business'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 transaction, the chief operating officer now owns 19,992 shares of the company's stock, valued at $11,135,544. This trade represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 168,843 shares of company stock worth $92,083,554 in the last 90 days. 13.71% of the stock is currently owned by company insiders.
Meta Platforms Stock Performance
Shares of NASDAQ META traded down $3.95 during trading on Friday, reaching $559.14. The stock had a trading volume of 9,164,004 shares, compared to its average volume of 13,967,285. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The stock 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 company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm's 50 day moving average price is $572.74 and its two-hundred day moving average price is $523.96.
Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. On average, research analysts forecast that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. Meta Platforms's dividend payout ratio is currently 9.42%.
Analyst Ratings Changes
A number of analysts recently commented on META shares. DA Davidson started coverage on Meta Platforms in a research note on Tuesday, September 10th. They set a "buy" rating and a $600.00 price objective on the stock. Piper Sandler raised their price target on Meta Platforms from $575.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Scotiabank decreased their price target on Meta Platforms from $585.00 to $583.00 and set a "sector perform" rating on the stock in a research note on Thursday, October 31st. Citigroup raised their price target on Meta Platforms from $645.00 to $705.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price target on Meta Platforms from $640.00 to $660.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average target price of $634.10.
View Our Latest Stock Report on META
Meta Platforms Profile
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Free Report)
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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