Dynamic Technology Lab Private Ltd Sells 2,761 Shares of Meta Platforms, Inc. (NASDAQ:META)

Dynamic Technology Lab Private Ltd reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 78.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 739 shares of the social networking company’s stock after selling 2,761 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Meta Platforms were worth $423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of META. International Assets Investment Management LLC increased its position 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 buying an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC increased its position in Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares during the last quarter. Sustainable Growth Advisers LP purchased a new stake in Meta Platforms in the second quarter worth $595,152,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in 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 worth $369,774,000 after buying an additional 661,923 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in Meta Platforms in the second quarter worth $285,690,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the transaction, the insider now owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. This represents a 2.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Aaron Anderson sold 731 shares of the 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 $407,167.00. Following the completion of the transaction, the chief accounting officer now directly owns 3,414 shares of the company’s stock, valued at $1,901,598. This represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,239 shares of company stock valued at $59,681,541. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.9 %

NASDAQ META opened at $574.32 on Friday. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95. 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 stock has a 50 day simple moving average of $575.21 and a two-hundred day simple moving average of $527.37. The stock has a market cap of $1.45 trillion, a P/E ratio of 27.05, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data 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 business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Analyst Upgrades and Downgrades

META has been the subject of several recent research reports. Mizuho lifted their price target on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Monness Crespi & Hardt lifted their price target on Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Stifel Nicolaus lifted their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Bank of America lifted 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, JPMorgan Chase & Co. lifted their price target on Meta Platforms from $640.00 to $660.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $634.71.

Meta Platforms 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.