Meta Platforms, Inc. (NASDAQ:META) Holdings Decreased by Sarasin & Partners LLP

by · The Markets Daily

Sarasin & Partners LLP reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 682,780 shares of the social networking company’s stock after selling 39,052 shares during the period. Meta Platforms accounts for about 3.7% of Sarasin & Partners LLP’s investment portfolio, making the stock its 9th largest holding. Sarasin & Partners LLP’s holdings in Meta Platforms were worth $390,851,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of META. Capital Research Global Investors grew its holdings in shares of Meta Platforms by 14.5% in the first 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 period. Vanguard Group Inc. raised its position in Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after acquiring an additional 3,104,550 shares during the period. Jennison Associates LLC increased its stake in shares of Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares in the last quarter. Sustainable Growth Advisers LP purchased a new position in Meta Platforms during the second quarter valued at $595,152,000. Finally, Global Assets Advisory LLC purchased a new stake in Meta Platforms in the first quarter worth about $515,383,000. Institutional investors own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 252,443 shares of company stock valued at $133,105,284 over the last ninety days. 13.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

META has been the subject of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Meta Platforms from $610.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, September 26th. DA Davidson initiated coverage on shares of Meta Platforms in a research report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective on the stock. Wolfe Research assumed coverage on Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target for the company. Robert W. Baird increased their target price on Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group upped their price target on Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three 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.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $609.71.

Get Our Latest Stock Analysis on Meta Platforms

Meta Platforms Stock Up 0.7 %

NASDAQ:META traded up $3.88 during mid-day trading on Friday, hitting $587.71. 1,618,940 shares of the company’s stock traded hands, compared to its average volume of 15,326,598. The company has a fifty day moving average of $536.08 and a 200 day moving average of $504.92. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $602.95. The company has a market capitalization of $1.49 trillion, a P/E ratio of 29.85, a P/E/G ratio of 1.45 and a beta of 1.22.

Meta Platforms (NASDAQ:META – Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm posted $3.23 EPS. On average, analysts forecast that Meta Platforms, Inc. will post 21.37 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 10.21%.

Meta Platforms Company Profile

(Free Report)

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.

Further Reading

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