Platform Technology Partners lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 5.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,484 shares of the social networking company’s stock after selling 521 shares during the period. Meta Platforms makes up 1.7% of Platform Technology Partners’ investment portfolio, making the stock its 11th biggest holding. Platform Technology Partners’ holdings in Meta Platforms were worth $5,429,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its position in shares of Meta Platforms by 48.8% during the first quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after acquiring an additional 16,138 shares in the last quarter. Empowered Funds LLC increased its position in shares of Meta Platforms by 22.4% during the first quarter. Empowered Funds LLC now owns 67,195 shares of the social networking company’s stock worth $32,629,000 after acquiring an additional 12,301 shares in the last quarter. Cypress Asset Management Inc. TX increased its position in shares of Meta Platforms by 541.8% during the first quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock worth $1,862,000 after acquiring an additional 3,224 shares in the last quarter. Fortis Capital Advisors LLC increased its position in shares of Meta Platforms by 13.9% during the first quarter. Fortis Capital Advisors LLC now owns 10,701 shares of the social networking company’s stock worth $5,196,000 after acquiring an additional 1,307 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Meta Platforms by 20.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,796,010 shares of the social networking company’s stock worth $1,357,687,000 after acquiring an additional 480,468 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.
Insider Buying and Selling
In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares in the company, valued at approximately $311,493,681. The trade was a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the completion of the transaction, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. The trade was a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 158,200 shares of company stock worth $84,533,106 in the last 90 days. 13.71% of the stock is owned by company insiders.
Analysts Set New Price Targets
Get Our Latest Analysis on Meta Platforms
Meta Platforms Stock Down 4.0 %
Shares of NASDAQ:META opened at $554.08 on Friday. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. 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 company has a market cap of $1.40 trillion, a price-to-earnings ratio of 26.10, a PEG ratio of 1.28 and a beta of 1.22. The firm has a fifty day moving average price of $568.11 and a two-hundred day moving average price of $519.97.
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, topping analysts’ consensus estimates of $5.19 by $0.84. The company had revenue of $40.59 billion for 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%. Analysts anticipate that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is presently 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.
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