RiverPark Advisors LLC Has $6.57 Million Position in Meta Platforms, Inc. (NASDAQ:META)

RiverPark Advisors LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,469 shares of the social networking company's stock after selling 1,108 shares during the period. Meta Platforms comprises approximately 5.4% of RiverPark Advisors LLC's portfolio, making the stock its 3rd biggest holding. RiverPark Advisors LLC's holdings in Meta Platforms were worth $6,565,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Capital World Investors lifted its position in shares of Meta Platforms by 0.6% in the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company's stock worth $18,597,382,000 after buying an additional 244,803 shares during the last quarter. Capital Research Global Investors lifted its stake in Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company's stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the last quarter. GQG Partners LLC lifted its position in Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company's stock worth $5,582,876,000 after acquiring an additional 342,742 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company's stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Meta Platforms by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company's stock valued at $3,911,029,000 after purchasing an additional 208,677 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on META shares. Mizuho raised their target price on Meta Platforms from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, October 31st. Evercore ISI upped their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, August 1st. Guggenheim raised their price objective on Meta Platforms from $600.00 to $665.00 and gave the stock a "buy" rating in a report on Monday, October 7th. JPMorgan Chase & Co. lifted their price target on Meta Platforms from $640.00 to $660.00 and gave the stock an "overweight" rating in a research report on Thursday, October 31st. Finally, Barclays boosted their target price on Meta Platforms from $550.00 to $630.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $634.10.

Meta Platforms Stock Performance

META stock traded up $0.45 during trading on Wednesday, reaching $561.54. 5,950,590 shares of the stock were exchanged, compared to its average volume of 14,996,767. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a 50 day simple moving average of $570.23 and a 200-day simple moving average of $522.73. The company has a market capitalization of $1.42 trillion, a P/E ratio of 26.23, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate 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 net margin of 35.55% and a return on equity of 35.60%. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared 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 of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms's dividend payout ratio is 9.42%.

Insiders Place Their Bets

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 620 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $345,340.00. Following the sale, the chief operating officer now owns 19,992 shares in the company, valued at approximately $11,135,544. This trade represents a 3.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,958 shares of company stock valued at $101,181,747. 13.71% of the stock is currently owned by insiders.

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.