Meta Platforms, Inc. (NASDAQ:META) Holdings Boosted by Deltec Asset Management LLC

Deltec Asset Management LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,078 shares of the social networking company’s stock after buying an additional 501 shares during the quarter. Meta Platforms accounts for 2.9% of Deltec Asset Management LLC’s investment portfolio, making the stock its 9th largest holding. Deltec Asset Management LLC’s holdings in Meta Platforms were worth $14,928,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in META. Vanguard Group Inc. lifted its position in Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares during the period. Capital World Investors raised its stake in shares of Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after buying an additional 244,803 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 valued at $16,799,612,000 after buying an additional 4,379,826 shares during the period. Jennison Associates LLC boosted its stake in shares of Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after buying an additional 2,748,620 shares in the last quarter. Finally, GQG Partners LLC boosted its stake in shares of Meta Platforms by 3.1% in the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after buying an additional 342,742 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Down 0.1 %

Shares of META opened at $567.16 on Friday. Meta Platforms, Inc. has a twelve month low of $308.33 and a twelve month high of $602.95. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock’s fifty day simple moving average is $555.99 and its 200 day simple moving average is $513.03.

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, beating the consensus estimate of $5.19 by $0.84. Meta Platforms had a return on equity of 36.26% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, equities research analysts forecast that Meta Platforms, Inc. will post 21.47 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on META shares. Piper Sandler raised their target price on Meta Platforms from $575.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday. DA Davidson assumed coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective for the company. Sanford C. Bernstein upped their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Wolfe Research initiated coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $670.00 price target on shares of Meta Platforms in a report on Wednesday, October 16th. Two research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $634.10.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the sale, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were 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 sold 251,993 shares of company stock valued at $133,271,982 over the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.