Meta Platforms, Inc. (NASDAQ:META) Shares Sold by True North Advisors LLC

True North Advisors LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,139 shares of the social networking company’s stock after selling 129 shares during the period. True North Advisors LLC’s holdings in Meta Platforms were worth $1,224,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake 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 during the period. Capital World Investors boosted its stake in Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after purchasing an additional 244,803 shares in the last quarter. Capital Research Global Investors increased its position in shares of 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 during the period. Jennison Associates LLC raised its stake in shares of Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after buying an additional 2,748,620 shares in the last quarter. Finally, GQG Partners LLC lifted its holdings in shares of Meta Platforms by 3.1% in the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after buying an additional 342,742 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 1.4 %

Shares of NASDAQ:META opened at $592.89 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.50 trillion, a PE ratio of 34.05, a P/E/G ratio of 1.39 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95. The firm has a fifty day moving average price of $532.05 and a 200 day moving average price of $503.76.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating 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 business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the prior year, the firm posted $3.23 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction on Friday, October 4th. The shares were sold at an average price of $583.73, for a total value of $241,080.49. Following the transaction, the chief operating officer now owns 11,946 shares in the company, valued at $6,973,238.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $583.73, for a total value of $241,080.49. Following the transaction, the chief operating officer now directly owns 11,946 shares in the company, valued at approximately $6,973,238.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $578.55, for a total value of $523,587.75. Following the transaction, the insider now directly owns 35,102 shares of the company’s stock, valued at $20,308,262.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 266,332 shares of company stock worth $139,981,833. 13.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

META has been the topic of several research reports. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Citigroup boosted their target price on shares of Meta Platforms from $580.00 to $645.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Evercore ISI raised their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Wedbush restated an “outperform” rating and issued a $600.00 price target on shares of Meta Platforms in a research report on Thursday, September 26th. Finally, JMP Securities increased their price objective on Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $601.08.

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.