Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Mirador Capital Partners LP

Mirador Capital Partners LP decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,912 shares of the social networking company’s stock after selling 1,355 shares during the quarter. Meta Platforms comprises 2.4% of Mirador Capital Partners LP’s investment portfolio, making the stock its 10th largest holding. Mirador Capital Partners LP’s holdings in Meta Platforms were worth $13,116,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in Meta Platforms by 0.4% during 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 acquiring an additional 831,047 shares during the period. Capital World Investors increased its stake in 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 valued at $18,597,382,000 after buying an additional 244,803 shares during the period. Capital Research Global Investors raised its position 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 worth $16,799,612,000 after buying an additional 4,379,826 shares during the last quarter. Jennison Associates LLC lifted 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 acquiring an additional 2,748,620 shares during the period. Finally, GQG Partners LLC increased its stake 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 acquiring an additional 342,742 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on META. Oppenheimer lifted their price objective on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their price objective on Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a research report on Wednesday. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, September 4th. Pivotal Research began coverage on shares of Meta Platforms in a report on Tuesday. They issued a “buy” rating and a $780.00 price target for the company. Finally, Jefferies Financial Group boosted their target price on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given 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 data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $598.08.

Meta Platforms Stock Performance

META stock traded up $13.17 on Friday, reaching $595.94. 14,199,788 shares of the company were exchanged, compared to its average volume of 15,523,651. 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 $596.85. The stock’s fifty day moving average price is $524.47 and its 200 day moving average price is $501.92. The firm has a market capitalization of $1.51 trillion, a PE ratio of 34.23, a PEG ratio of 1.39 and a beta of 1.22.

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, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $3.23 earnings per share. On average, research analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Activity

In related news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $530.75, for a total value of $8,864,586.50. Following the sale, the chief executive officer now owns 169,372 shares of the company’s stock, valued at $89,894,189. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Monday, July 8th. The stock was sold at an average price of $530.75, for a total transaction of $8,864,586.50. Following the completion of the transaction, the chief executive officer now directly owns 169,372 shares of the company’s stock, valued at approximately $89,894,189. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction dated 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 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 300,228 shares of company stock worth $158,005,260. 13.71% of the stock is currently owned by corporate insiders.

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.