Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,032 shares of the social networking company’s stock after selling 298 shares during the quarter. Lmcg Investments LLC’s holdings in Meta Platforms were worth $12,612,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake 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 purchasing an additional 831,047 shares during the last quarter. Capital World Investors boosted its position in shares of Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after purchasing an additional 244,803 shares during the period. Capital Research Global Investors increased its holdings in Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the last quarter. Jennison Associates LLC raised its position in Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the period. Finally, GQG Partners LLC lifted its stake in 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 purchasing an additional 342,742 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the completion of the transaction, the chief executive officer now directly owns 72,473 shares of the company’s stock, valued at $38,302,705.23. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the transaction, the chief executive officer now owns 72,473 shares of the company’s stock, valued at $38,302,705.23. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $589.97, for a total value of $533,922.85. Following the completion of the transaction, the insider now owns 33,292 shares of the company’s stock, valued at $19,641,281.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,919 shares of company stock worth $129,296,067. 13.71% of the stock is owned by insiders.

Meta Platforms Trading Up 2.1 %

Shares of Meta Platforms stock opened at $572.43 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The company has a market capitalization of $1.45 trillion, a P/E ratio of 26.96, a PEG ratio of 1.26 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $313.66 and a 1 year high of $602.95. The company’s fifty day moving average is $556.78 and its two-hundred day moving average is $513.67.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Analysts forecast that Meta Platforms, Inc. will post 22.44 earnings per share for the current 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. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a report on Monday, October 14th. Piper Sandler boosted their price target on shares of Meta Platforms from $575.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Pivotal Research raised their price objective on shares of Meta Platforms from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Oppenheimer upped their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Raymond James raised their price target on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms currently has an average 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.