Mizuho Markets Cayman LP Sells 2,133 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mizuho Markets Cayman LP trimmed its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 71.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 867 shares of the social networking company’s stock after selling 2,133 shares during the quarter. Meta Platforms accounts for about 2.1% of Mizuho Markets Cayman LP’s holdings, making the stock its 11th largest position. Mizuho Markets Cayman LP’s holdings in Meta Platforms were worth $496,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Central Valley Advisors LLC boosted its position in shares of Meta Platforms by 0.3% in the third quarter. Central Valley Advisors LLC now owns 5,714 shares of the social networking company’s stock valued at $3,271,000 after acquiring an additional 18 shares during the period. Cherrydale Wealth Management LLC increased its holdings in Meta Platforms by 0.5% during the 3rd quarter. Cherrydale Wealth Management LLC now owns 3,841 shares of the social networking company’s stock worth $2,199,000 after acquiring an additional 18 shares during the period. Alliance Wealth Advisors LLC boosted its holdings in Meta Platforms by 0.7% in the 3rd quarter. Alliance Wealth Advisors LLC now owns 2,787 shares of the social networking company’s stock valued at $1,595,000 after purchasing an additional 18 shares during the period. Kozak & Associates Inc. increased its stake in Meta Platforms by 1.0% in the 3rd quarter. Kozak & Associates Inc. now owns 1,906 shares of the social networking company’s stock worth $1,099,000 after acquiring an additional 18 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Meta Platforms by 0.5% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 3,560 shares of the social networking company’s stock valued at $2,038,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In other news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the completion of the transaction, the insider now owns 338,662 shares of the company’s stock, valued at $188,810,838.24. The trade was a 5.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the sale, the chief executive officer now directly owns 518,508 shares in the company, valued at $311,493,681. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 140,593 shares of company stock worth $75,253,970. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $554.40 on Tuesday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1.40 trillion, a price-to-earnings ratio of 26.11, a PEG ratio of 1.23 and a beta of 1.22. The business’s fifty day moving average is $569.10 and its 200 day moving average is $521.96. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Research analysts expect that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is 9.42%.

Analyst Ratings Changes

A number of brokerages recently weighed in on META. Roth Mkm raised their target price on shares of Meta Platforms from $620.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Susquehanna raised their price objective on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a research report on Thursday, October 31st. Piper Sandler upped their target price on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Bank of America raised their price target on Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Citigroup upped their price objective on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Company 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.