Mirabaud & Cie SA Sells 1,615 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mirabaud & Cie SA decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 12,746 shares of the social networking company's stock after selling 1,615 shares during the quarter. Meta Platforms makes up 2.4% of Mirabaud & Cie SA's investment portfolio, making the stock its 11th largest position. Mirabaud & Cie SA's holdings in Meta Platforms were worth $7,463,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ballentine Partners LLC boosted its holdings in shares of Meta Platforms by 1.4% in the fourth quarter. Ballentine Partners LLC now owns 58,218 shares of the social networking company's stock worth $34,087,000 after acquiring an additional 808 shares during the period. UMB Bank n.a. lifted its holdings in Meta Platforms by 0.6% during the 4th quarter. UMB Bank n.a. now owns 140,585 shares of the social networking company's stock worth $82,314,000 after purchasing an additional 897 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Meta Platforms by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company's stock worth $7,915,451,000 after purchasing an additional 118,298 shares during the period. LS Investment Advisors LLC grew its holdings in Meta Platforms by 111.4% during the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company's stock valued at $6,686,000 after buying an additional 6,155 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. increased its position in shares of Meta Platforms by 0.7% during the third quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company's stock valued at $5,573,000 after buying an additional 65 shares during the period. Institutional investors own 79.91% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on META. UBS Group raised their price objective on shares of Meta Platforms from $690.00 to $719.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Robert W. Baird boosted their price target on shares of Meta Platforms from $605.00 to $630.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Rosenblatt Securities restated a "buy" rating and issued a $811.00 target price on shares of Meta Platforms in a research note on Thursday, October 31st. Mizuho lifted their price target on Meta Platforms from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Finally, KeyCorp upped their price objective on shares of Meta Platforms from $655.00 to $700.00 and gave the stock an "overweight" rating in a research report on Friday, January 10th. 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 given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of "Moderate Buy" and an average price target of $654.20.

Meta Platforms Trading Up 1.7 %

Shares of META traded up $11.04 during trading hours on Friday, reaching $647.49. 19,039,689 shares of the company traded hands, compared to its average volume of 9,840,293. Meta Platforms, Inc. has a 12 month low of $385.66 and a 12 month high of $652.00. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company's fifty day moving average price is $601.93 and its two-hundred day moving average price is $560.33. The company has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 1.18 and a beta of 1.19.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts' consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for 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%. Equities research analysts predict that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms's payout ratio is currently 9.42%.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 413 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $567.58, for a total transaction of $234,410.54. Following the sale, the chief operating officer now directly owns 10,294 shares of the company's stock, valued at $5,842,668.52. This trade represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total transaction of $524,990.50. Following the transaction, the insider now owns 31,482 shares in the company, valued at $18,262,708.20. This represents a 2.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 568,016 shares of company stock worth $346,031,180. 13.71% of the stock is currently owned by company 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.