Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,537,107 shares of the social networking company’s stock after buying an additional 39,663 shares during the quarter. Meta Platforms accounts for 1.6% of Thrivent Financial for Lutherans’ investment portfolio, making the stock its 6th largest holding. Thrivent Financial for Lutherans owned about 0.06% of Meta Platforms worth $775,039,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after acquiring an additional 831,047 shares in the last quarter. Capital World Investors lifted its holdings in shares of Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after purchasing an additional 244,803 shares in the last quarter. Capital International Investors grew its position in Meta Platforms by 3.2% in the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after purchasing an additional 1,083,719 shares during the period. Capital Research Global Investors increased its stake in Meta Platforms by 14.5% during 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 in the last quarter. Finally, Sanders Capital LLC raised its holdings in Meta Platforms by 2.4% during the fourth quarter. Sanders Capital LLC now owns 14,569,705 shares of the social networking company’s stock worth $5,157,093,000 after buying an additional 344,384 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares in the company, valued at $15,034,122.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the sale, the chief operating officer now owns 14,424 shares of the company’s stock, valued at $7,744,534.08. The disclosure for this sale can be found here. Insiders have sold a total of 346,666 shares of company stock worth $180,145,414 in the last 90 days. 13.71% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus raised their price objective on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Finally, Raymond James lifted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 1st. Two 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $577.26.

Meta Platforms Trading Up 0.4 %

Shares of META stock opened at $561.35 on Monday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $507.58 and a two-hundred day moving average price of $497.27. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $564.50. The firm has a market cap of $1.42 trillion, a P/E ratio of 32.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21.

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

Meta Platforms Announces Dividend

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

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.