Tybourne Capital Management HK Ltd. Has $1.49 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Tybourne Capital Management HK Ltd. trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 27.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 2,610 shares of the social networking company’s stock after selling 977 shares during the period. Meta Platforms makes up about 0.4% of Tybourne Capital Management HK Ltd.’s holdings, making the stock its 27th largest holding. Tybourne Capital Management HK Ltd.’s holdings in Meta Platforms were worth $1,494,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of META. Charles Schwab Investment Management Inc. increased its position in Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after acquiring an additional 118,298 shares during the period. LS Investment Advisors LLC increased its holdings in Meta Platforms by 111.4% in the 3rd quarter. LS Investment Advisors LLC now owns 11,679 shares of the social networking company’s stock valued at $6,686,000 after buying an additional 6,155 shares during the period. Gradient Investments LLC increased its holdings in Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after buying an additional 5,953 shares during the period. Cutter & CO Brokerage Inc. increased its holdings in Meta Platforms by 0.7% in the 3rd quarter. Cutter & CO Brokerage Inc. now owns 9,735 shares of the social networking company’s stock valued at $5,573,000 after buying an additional 65 shares during the period. Finally, Stanley Laman Group Ltd. increased its holdings in Meta Platforms by 26.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 1,678 shares of the social networking company’s stock valued at $846,000 after buying an additional 352 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the sale, the insider now owns 338,662 shares of the company’s stock, valued at $188,810,838.24. This trade represents a 5.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $520.00, for a total value of $470,600.00. Following the sale, the insider now directly owns 38,722 shares of the company’s stock, valued at $20,135,440. This represents a 2.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,239 shares of company stock valued at $59,681,541. 13.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on META. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. Loop Capital upped their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Sanford C. Bernstein upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. TD Cowen upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Robert W. Baird upped their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $634.71.

Meta Platforms Price Performance

Shares of META opened at $569.20 on Friday. The stock has a market capitalization of $1.44 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.25 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a 50 day moving average of $574.75 and a 200-day moving average of $526.33.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is presently 9.42%.

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.