Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,839 shares of the social networking company’s stock after selling 50 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Meta Platforms were worth $552,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Meta Platforms by 1.9% during the second quarter. BlackRock Inc. now owns 155,776,067 shares of the social networking company’s stock worth $44,704,616,000 after purchasing an additional 2,841,147 shares during the period. State Street Corp grew its position in shares of Meta Platforms by 1.8% during the 2nd quarter. State Street Corp now owns 88,542,953 shares of the social networking company’s stock valued at $25,410,057,000 after buying an additional 1,548,671 shares during the last quarter. Geode Capital Management LLC raised its stake in Meta Platforms by 0.3% during the second quarter. Geode Capital Management LLC now owns 44,053,475 shares of the social networking company’s stock worth $12,607,487,000 after acquiring an additional 115,131 shares during the period. Capital World Investors lifted its holdings in Meta Platforms by 4.7% in the second quarter. Capital World Investors now owns 37,143,760 shares of the social networking company’s stock worth $10,659,361,000 after acquiring an additional 1,657,513 shares during the last quarter. Finally, Norges Bank acquired a new position in Meta Platforms in the fourth quarter valued at approximately $4,223,148,000. 62.87% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 0.0 %

NASDAQ META opened at $467.90 on Monday. The firm’s 50 day moving average price is $371.59 and its two-hundred day moving average price is $332.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.67 and a current ratio of 2.67. Meta Platforms, Inc. has a twelve month low of $167.66 and a twelve month high of $485.96. The stock has a market cap of $1.19 trillion, a price-to-earnings ratio of 31.42, a PEG ratio of 1.22 and a beta of 1.15.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Thursday, February 1st. The social networking company reported $5.33 earnings per share for the quarter, beating analysts’ consensus estimates of $4.82 by $0.51. The business had revenue of $40.11 billion for the quarter, compared to the consensus estimate of $39.12 billion. Meta Platforms had a return on equity of 29.48% and a net margin of 28.98%. Meta Platforms’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.00 earnings per share. Equities analysts anticipate that Meta Platforms, Inc. will post 19.62 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 26th. Stockholders of record on Thursday, February 22nd will be issued a $0.50 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.43%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Morgan Stanley increased their price target on Meta Platforms from $375.00 to $550.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Wolfe Research increased their target price on Meta Platforms from $430.00 to $530.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Barclays boosted their price target on shares of Meta Platforms from $400.00 to $550.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Bank of America increased their price objective on shares of Meta Platforms from $425.00 to $510.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, Jefferies Financial Group lifted their price objective on shares of Meta Platforms from $425.00 to $455.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, forty have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $494.53.

Check Out Our Latest Report on Meta Platforms

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 10,642 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $336.31, for a total value of $3,579,011.02. Following the transaction, the chief financial officer now owns 89,509 shares in the company, valued at approximately $30,102,771.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Susan J. Li sold 10,642 shares of Meta Platforms stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $336.31, for a total transaction of $3,579,011.02. Following the completion of the sale, the chief financial officer now owns 89,509 shares of the company’s stock, valued at $30,102,771.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 28,009 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $333.84, for a total value of $9,350,524.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 862,280 shares of company stock worth $308,663,204. 14.03% of the stock is owned by company insiders.

About Meta Platforms

(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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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