Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Increased by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC grew its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 323.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,982 shares of the social networking company's stock after purchasing an additional 19,082 shares during the quarter. Meta Platforms makes up approximately 1.5% of Sawgrass Asset Management LLC's portfolio, making the stock its 22nd largest holding. Sawgrass Asset Management LLC's holdings in Meta Platforms were worth $14,301,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Central Valley Advisors LLC increased its position in Meta Platforms by 0.3% during the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company's stock valued at $3,271,000 after acquiring an additional 18 shares during the last quarter. Cherrydale Wealth Management LLC boosted its stake in shares of Meta Platforms by 0.5% during the third quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company's stock valued at $2,199,000 after purchasing an additional 18 shares during the period. Alliance Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 0.7% during the third quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company's stock valued at $1,595,000 after purchasing an additional 18 shares during the period. Kozak & Associates Inc. boosted its stake in shares of Meta Platforms by 1.0% during the third quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company's stock valued at $1,099,000 after purchasing an additional 18 shares during the period. Finally, Capital Advisors Ltd. LLC boosted its stake in shares of Meta Platforms by 0.5% during the third quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company's stock valued at $2,038,000 after purchasing an additional 18 shares during the period. Institutional investors own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 620 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 $345,340.00. Following the transaction, the chief operating officer now directly owns 19,992 shares in the company, valued at $11,135,544. This trade represents a 3.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,958 shares of company stock valued at $101,181,747. Insiders own 13.71% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on META. Roth Mkm boosted their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Pivotal Research upped their price objective on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Guggenheim upped their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a "buy" rating in a research note on Monday, October 7th. Mizuho upped their price objective on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Finally, Barclays upped their price objective on shares of Meta Platforms from $550.00 to $630.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $634.10.

Meta Platforms Trading Up 0.0 %

Shares of NASDAQ:META traded up $0.01 during midday trading on Wednesday, reaching $561.10. 5,639,719 shares of the company's stock were exchanged, compared to its average volume of 14,995,385. The stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 26.23, a P/E/G ratio of 1.23 and a beta of 1.22. 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 firm's 50 day simple moving average is $570.23 and its two-hundred day simple moving average is $522.73. 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 results 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. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

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.