1832 Asset Management L.P. Sells 21,370 Shares of Meta Platforms, Inc. (NASDAQ:META)

1832 Asset Management L.P. lessened its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,360,052 shares of the social networking company’s stock after selling 21,370 shares during the quarter. Meta Platforms comprises 0.4% of 1832 Asset Management L.P.’s holdings, making the stock its 19th biggest position. 1832 Asset Management L.P. owned 0.05% of Meta Platforms worth $660,414,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new position in Meta Platforms during the 4th quarter valued at approximately $11,285,855,000. International Assets Investment Management LLC increased its stake in Meta Platforms by 11,154.4% during the 4th quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock valued at $1,752,900,000 after purchasing an additional 4,908,251 shares in the last quarter. Capital Research Global Investors increased its stake in Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after purchasing an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management increased its stake in Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after purchasing an additional 3,888,308 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 2.7 %

Shares of META traded up $12.29 during trading on Friday, reaching $465.70. 14,222,388 shares of the company traded hands, compared to its average volume of 13,931,730. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $542.81. The stock has a market cap of $1.18 trillion, a PE ratio of 26.75, a price-to-earnings-growth ratio of 1.17 and a beta of 1.21. The stock has a 50-day simple moving average of $493.20 and a 200-day simple moving average of $475.36. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. On average, analysts anticipate that Meta Platforms, Inc. will post 20.23 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Analyst Upgrades and Downgrades

META has been the topic of a number of research reports. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Sanford C. Bernstein increased their price objective on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Wells Fargo & Company increased their price objective on shares of Meta Platforms from $593.00 to $625.00 and gave the stock an “overweight” rating in a research note on Monday, July 8th. TD Cowen increased their price objective on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Rosenblatt Securities increased their price objective on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $525.66.

Insider Activity

In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares of the company’s stock, valued at $15,794,965.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Jennifer Newstead sold 585 shares of Meta Platforms stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total value of $252,164.25. Following the transaction, the insider now directly owns 36,643 shares of the company’s stock, valued at approximately $15,794,965.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 490 shares of Meta Platforms stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $445.93, for a total transaction of $218,505.70. Following the completion of the transaction, the chief operating officer now directly owns 6,109 shares in the company, valued at $2,724,186.37. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,348 shares of company stock valued at $154,678,120. 13.71% of the stock is currently owned by company insiders.

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.