Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Summit Trail Advisors LLC

Summit Trail Advisors LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,999 shares of the social networking company’s stock after purchasing an additional 2,316 shares during the period. Summit Trail Advisors LLC’s holdings in Meta Platforms were worth $12,593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jennison Associates LLC increased its holdings in Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after purchasing an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Meta Platforms by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after buying an additional 118,298 shares during the last quarter. International Assets Investment Management LLC raised its holdings 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 valued at $5,447,975,000 after acquiring an additional 9,500,444 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Meta Platforms by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after acquiring an additional 208,677 shares during the last quarter. Finally, Swiss National Bank grew its holdings in Meta Platforms by 0.3% during the 3rd quarter. Swiss National Bank now owns 6,504,600 shares of the social networking company’s stock worth $3,723,493,000 after acquiring an additional 17,100 shares in the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other news, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the completion of the sale, the insider now owns 338,662 shares in the company, valued at $188,810,838.24. This represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Andrew Bosworth sold 14,746 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $553.53, for a total value of $8,162,353.38. The disclosure for this sale can be found here. Insiders sold 118,218 shares of company stock worth $65,819,414 in the last quarter. 13.71% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company decreased their target price on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. UBS Group raised their price objective on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird boosted their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $634.71.

Meta Platforms Stock Performance

Shares of META opened at $565.11 on Tuesday. 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 firm’s 50 day moving average is $573.38 and its 200-day moving average is $525.35. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 26.62, a P/E/G ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Equities research analysts anticipate that Meta Platforms, Inc. will post 22.62 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is 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.