Meta Platforms, Inc. (NASDAQ:META) is Unison Asset Management LLC's Largest Position

Unison Asset Management LLC cut its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,928 shares of the social networking company's stock after selling 2,257 shares during the quarter. Meta Platforms comprises approximately 10.6% of Unison Asset Management LLC's holdings, making the stock its largest holding. Unison Asset Management LLC's holdings in Meta Platforms were worth $22,284,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of META. Charles Schwab Investment Management Inc. boosted its stake in shares of Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company's stock valued at $7,915,451,000 after purchasing an additional 118,298 shares during the period. LS Investment Advisors LLC boosted its position in Meta Platforms by 111.4% in 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 during the period. Gradient Investments LLC grew its stake in Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company's stock worth $36,600,000 after acquiring an additional 5,953 shares in the last quarter. 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 worth $5,573,000 after acquiring an additional 65 shares during the period. Finally, Stanley Laman Group Ltd. raised its stake in shares of Meta Platforms by 26.5% during the second quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company's stock valued at $846,000 after acquiring an additional 352 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on META shares. Raymond James reissued a "strong-buy" rating and issued a $675.00 price objective on shares of Meta Platforms in a research note on Monday. Evercore ISI raised their price target on Meta Platforms from $550.00 to $600.00 and gave the company an "outperform" rating in a research note on Thursday, August 1st. 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. Citigroup increased their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, BMO Capital Markets boosted their price target on shares of Meta Platforms from $525.00 to $530.00 and gave the company a "market perform" 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 given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus price target of $634.71.

Insiders Place Their Bets

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the company's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the transaction, the insider now directly owns 338,662 shares in the company, valued at approximately $188,810,838.24. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,656 shares of company stock worth $61,933,867. Company insiders own 13.71% of the company's stock.

Meta Platforms Stock Up 0.2 %

Shares of META opened at $574.53 on Wednesday. The company has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 27.02, a PEG ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The stock's 50-day moving average price is $573.38 and its 200-day moving average price is $525.35. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping the consensus estimate of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, sell-side analysts predict that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms's payout ratio is 9.42%.

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.