Ignite Planners LLC Has $4.32 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Ignite Planners LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,552 shares of the social networking company’s stock after selling 122 shares during the period. Meta Platforms makes up approximately 1.0% of Ignite Planners LLC’s holdings, making the stock its 24th biggest position. Ignite Planners LLC’s holdings in Meta Platforms were worth $4,323,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in META. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares in the last quarter. Capital World Investors raised its stake in Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after acquiring an additional 244,803 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of Meta Platforms by 14.5% during the first 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 acquiring an additional 4,379,826 shares during the period. Jennison Associates LLC increased its holdings in Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares in the last quarter. Finally, GQG Partners LLC raised its position in Meta Platforms by 3.1% in the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after purchasing an additional 342,742 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $533.87, for a total transaction of $8,916,696.74. Following the completion of the transaction, the chief executive officer now owns 151,918 shares of the company’s stock, valued at approximately $81,104,462.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $533.87, for a total transaction of $8,916,696.74. Following the sale, the chief executive officer now owns 151,918 shares in the company, valued at approximately $81,104,462.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 282,621 shares of company stock worth $148,657,449 in the last 90 days. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Performance

Shares of META opened at $584.78 on Tuesday. The stock has a market capitalization of $1.48 trillion, a PE ratio of 33.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The business’s fifty day moving average price is $527.07 and its 200 day moving average price is $502.63. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95.

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

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid 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 0.34%. Meta Platforms’s payout ratio is presently 11.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on META shares. Loop Capital upped their price target on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. The Goldman Sachs Group boosted their price objective on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Guggenheim raised their target price on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday. Susquehanna increased their price target on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Finally, Piper Sandler upped their price objective on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $601.08.

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.