Mizuho Markets Cayman LP Sells 2,133 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mizuho Markets Cayman LP decreased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 71.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 867 shares of the social networking company's stock after selling 2,133 shares during the period. Meta Platforms makes up approximately 2.1% of Mizuho Markets Cayman LP's holdings, making the stock its 11th biggest position. Mizuho Markets Cayman LP's holdings in Meta Platforms were worth $496,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the second quarter worth approximately $38,000. Ruedi Wealth Management Inc. boosted its stake in 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 buying an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new position in Meta Platforms during the third quarter worth about $46,000. West Financial Advisors LLC bought a new stake in Meta Platforms in the third quarter worth about $49,000. Finally, NewSquare Capital LLC boosted its position 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 valued at $52,000 after purchasing an additional 71 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the firm's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $531.46, for a total transaction of $8,876,444.92. Following the transaction, the chief executive officer now owns 11,384 shares in the company, valued at approximately $6,050,140.64. This trade represents a 59.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total transaction of $533,922.85. Following the transaction, the insider now directly owns 33,292 shares in the company, valued at approximately $19,641,281.24. This represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,593 shares of company stock worth $75,253,970. Insiders own 13.71% of the company's stock.

Meta Platforms Stock Performance

Shares of NASDAQ META traded up $2.50 during mid-day trading on Tuesday, hitting $556.90. The company had a trading volume of 4,654,286 shares, compared to its average volume of 15,015,419. The business's 50-day simple moving average is $569.10 and its 200-day simple moving average is $521.96. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The firm has a market cap of $1.41 trillion, a P/E ratio of 26.09, a PEG ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META - Get Free Report) last issued 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. 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%. As a group, analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms's payout ratio is 9.42%.

Analyst Ratings Changes

META has been the topic of several recent research reports. Jefferies Financial Group lifted their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Bank of America upped their target price on Meta Platforms from $630.00 to $660.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Needham & Company LLC reissued an "underperform" rating on shares of Meta Platforms in a research note on Thursday, October 31st. Stifel Nicolaus upped their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the company a "buy" rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $640.00 to $660.00 and gave the company an "overweight" 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 given a strong buy rating to the company's stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus target price of $634.10.

About Meta Platforms

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.