Sompo Asset Management Co. Ltd. Decreases Position in Meta Platforms, Inc. (NASDAQ:META)

Sompo Asset Management Co. Ltd. cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 11.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,515 shares of the social networking company's stock after selling 2,564 shares during the quarter. Meta Platforms makes up about 1.8% of Sompo Asset Management Co. Ltd.'s investment portfolio, making the stock its 12th biggest position. Sompo Asset Management Co. Ltd.'s holdings in Meta Platforms were worth $11,171,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Lindenwold Advisors INC increased its stake in shares of Meta Platforms by 0.3% during the third quarter. Lindenwold Advisors INC now owns 5,918 shares of the social networking company's stock worth $3,388,000 after purchasing an additional 17 shares in the last quarter. Central Valley Advisors LLC raised its holdings in shares of 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 lifted its position in shares of Meta Platforms by 0.5% in 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 acquiring an additional 18 shares in the last quarter. Alliance Wealth Advisors LLC increased its position 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 worth $1,595,000 after purchasing an additional 18 shares in the last quarter. Finally, Kozak & Associates Inc. raised its stake in Meta Platforms by 1.0% in the 3rd 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 last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on META shares. Jefferies Financial Group raised their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group lifted their price objective on Meta Platforms from $555.00 to $636.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Monness Crespi & Hardt lifted their price target on Meta Platforms from $620.00 to $660.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Citigroup upped their price objective on shares of Meta Platforms from $645.00 to $705.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Finally, BMO Capital Markets lifted their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a "market perform" rating in a research note 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $634.71.

Insider Buying and Selling

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares of the company's stock, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 84 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company's stock, valued at approximately $311,054,400. This trade represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 118,218 shares of company stock valued at $65,819,414 over the last three months. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Performance

Shares of META stock traded up $8.43 during trading hours on Tuesday, hitting $573.54. The stock had a trading volume of 10,332,713 shares, compared to its average volume of 14,935,038. 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 has a market capitalization of $1.45 trillion, a PE ratio of 27.06, a PEG ratio of 1.23 and a beta of 1.22. The stock's 50 day moving average is $573.38 and its 200 day moving average is $525.35. 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 quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms's dividend payout ratio (DPR) is presently 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.