Mondrian Investment Partners LTD Sells 50,014 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mondrian Investment Partners LTD reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 14.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 295,885 shares of the social networking company’s stock after selling 50,014 shares during the period. Meta Platforms makes up approximately 2.2% of Mondrian Investment Partners LTD’s investment portfolio, making the stock its 16th biggest position. Mondrian Investment Partners LTD’s holdings in Meta Platforms were worth $140,495,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in META. Quest Partners LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at approximately $32,000. Clear Investment Research LLC increased its stake in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Delos Wealth Advisors LLC raised its position in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms during the second quarter valued at approximately $38,000. Finally, Ruedi Wealth Management Inc. boosted its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 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 news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total value of $8,532,717.76. Following the sale, the chief executive officer now owns 230,461 shares of the company’s stock, valued at $117,737,915.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total value of $8,532,717.76. Following the sale, the chief executive officer now directly owns 230,461 shares of the company’s stock, valued at $117,737,915.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The disclosure for this sale can be found here. Insiders have sold a total of 356,426 shares of company stock worth $185,053,425 over the last ninety days. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

META has been the subject of a number of research analyst reports. Tigress Financial boosted their price target on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Bank of America lifted their price target on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wolfe Research initiated coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price objective for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $525.00 target price on shares of Meta Platforms in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $577.26.

Meta Platforms Trading Up 0.4 %

NASDAQ:META opened at $561.35 on Friday. The firm has a fifty day simple moving average of $506.33 and a two-hundred day simple moving average of $496.78. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $564.50. The stock has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 32.24, a PEG ratio of 1.26 and a beta of 1.21. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.23 EPS. Analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s payout ratio is currently 11.49%.

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.