Mill Creek Capital Advisors LLC Sells 155 Shares of Meta Platforms, Inc. (NASDAQ:META)

Mill Creek Capital Advisors LLC decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,934 shares of the social networking company’s stock after selling 155 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Meta Platforms were worth $3,969,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC grew its stake in Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of 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 worth $16,799,612,000 after buying an additional 4,379,826 shares during the period. Sustainable Growth Advisers LP bought a new position in shares of Meta Platforms during the 2nd quarter worth $595,152,000. Canada Pension Plan Investment Board increased its stake in shares of Meta Platforms by 30.0% during the first quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock valued at $1,656,318,000 after buying an additional 788,131 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Meta Platforms by 926.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after acquiring an additional 661,923 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Wells Fargo & Company cut their target price on shares of Meta Platforms from $652.00 to $641.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Tigress Financial boosted their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. TD Cowen increased their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Guggenheim boosted their price target on Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Finally, Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Activity

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 620 shares of Meta Platforms stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $345,340.00. Following the completion of the sale, the chief operating officer now directly owns 19,992 shares in the company, valued at $11,135,544. This represents a 3.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,958 shares of company stock worth $101,181,747 over the last three months. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

NASDAQ:META opened at $561.09 on Wednesday. The company has a 50 day moving average price of $570.23 and a 200-day moving average price of $522.73. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The firm has a market cap of $1.42 trillion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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 business had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Equities research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

About Meta Platforms

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.