Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Tacita Capital Inc

Tacita Capital Inc reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 15.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 423 shares of the social networking company’s stock after selling 77 shares during the period. Tacita Capital Inc’s holdings in Meta Platforms were worth $242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of 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 valued at $90,891,055,000 after acquiring an additional 831,047 shares in the last quarter. Capital World Investors lifted its stake in shares of Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after purchasing an additional 244,803 shares during the last quarter. Capital Research Global Investors lifted its position in Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the last quarter. GQG Partners LLC lifted its position in Meta Platforms by 3.1% during the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after acquiring an additional 342,742 shares during the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after buying an additional 9,500,444 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the completion of the transaction, the chief operating officer now directly owns 14,424 shares of the company’s stock, valued at $7,744,534.08. This represents a 2.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $533.24, for a total value of $8,906,174.48. Following the sale, the chief executive officer now directly owns 28,838 shares of the company’s stock, valued at approximately $15,377,575.12. This represents a 36.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,200 shares of company stock valued at $84,533,106 over the last quarter. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.5 %

META opened at $577.16 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The business has a 50 day simple moving average of $565.83 and a 200-day simple moving average of $518.72. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 27.19, a P/E/G ratio of 1.29 and a beta of 1.22. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share 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 company had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. On average, equities analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Wall Street Analyst Weigh In

META has been the topic of a number of analyst reports. Raymond James upped their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research note on Thursday, October 10th. Bank of America increased their price objective on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a report on Wednesday, October 16th. Wedbush reiterated an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a report on Thursday, September 26th. Finally, Monness Crespi & Hardt increased their price objective on shares of Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.