Martingale Asset Management L P Has $40.73 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Martingale Asset Management L P cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,149 shares of the social networking company’s stock after selling 3,265 shares during the period. Meta Platforms accounts for approximately 0.9% of Martingale Asset Management L P’s holdings, making the stock its 17th biggest holding. Martingale Asset Management L P’s holdings in Meta Platforms were worth $40,729,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in META. Cypress Asset Management Inc. TX increased its stake in shares of Meta Platforms by 541.8% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,819 shares of the social networking company’s stock valued at $1,862,000 after acquiring an additional 3,224 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Meta Platforms by 0.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 16,111 shares of the social networking company’s stock valued at $7,823,000 after acquiring an additional 56 shares during the last quarter. OMC Financial Services LTD bought a new stake in Meta Platforms during the 1st quarter worth approximately $4,355,000. American Trust increased its stake in Meta Platforms by 1.6% during the 1st quarter. American Trust now owns 3,179 shares of the social networking company’s stock worth $1,544,000 after purchasing an additional 50 shares in the last quarter. Finally, Jackson Wealth Management LLC bought a new stake in Meta Platforms during the 1st quarter worth approximately $599,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Meta Platforms news, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’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 completion of the transaction, the insider now owns 38,722 shares of the company’s stock, valued at $20,135,440. This trade represents a 2.28 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,239 shares of company stock worth $59,681,541. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Down 0.8 %

NASDAQ META opened at $569.20 on Friday. The company has a market cap of $1.44 trillion, a price-to-earnings ratio of 26.81, a P/E/G ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95. The business has a 50 day moving average price of $574.75 and a 200-day moving average price of $526.33. 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 (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. As a group, equities analysts expect that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Oppenheimer increased their target price on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Hsbc Global Res raised Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. JMP Securities raised their price target on shares of Meta Platforms from $635.00 to $660.00 and gave the stock a “market outperform” rating in a research note on Thursday, October 31st. Loop Capital raised their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, Pivotal Research raised their price target on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $634.71.

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.