Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Collective Family Office LLC

Collective Family Office LLC lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 7.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 610 shares of the social networking company’s stock after selling 47 shares during the quarter. Collective Family Office LLC’s holdings in Meta Platforms were worth $349,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of META. Vanguard Group Inc. grew 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 in the last quarter. Capital World Investors increased its holdings 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 worth $18,597,382,000 after purchasing an additional 244,803 shares during the last quarter. Capital Research Global Investors raised its position in shares of Meta Platforms by 14.5% in 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. Jennison Associates LLC boosted its stake in shares of 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 buying an additional 2,748,620 shares during the last quarter. Finally, GQG Partners LLC grew its position in shares of Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after buying an additional 342,742 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were 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 approximately $39,285,234.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Susan J. Li sold 8,950 shares of the business’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 value of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Insiders sold 300,228 shares of company stock valued at $158,005,260 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on META shares. Raymond James upped their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a report on Monday, July 1st. Loop Capital increased their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Guggenheim lifted their price target on Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. BMO Capital Markets restated a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $598.08.

Meta Platforms Stock Up 2.3 %

NASDAQ:META traded up $13.17 on Friday, hitting $595.94. 14,199,788 shares of the company’s stock traded hands, compared to its average volume of 15,523,651. 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 company has a market cap of $1.51 trillion, a PE ratio of 34.23, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The firm has a 50-day moving average price of $527.07 and a 200-day moving average price of $502.60. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $596.85.

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

Meta Platforms Dividend Announcement

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

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.