Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,701 shares of the social networking company’s stock after selling 265 shares during the quarter. Meta Platforms comprises about 1.4% of Te Ahumairangi Investment Management Ltd’s investment portfolio, making the stock its 22nd biggest holding. Te Ahumairangi Investment Management Ltd’s holdings in Meta Platforms were worth $8,110,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baird Financial Group Inc. raised its holdings in shares of Meta Platforms by 24.2% in the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after purchasing an additional 163,067 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of Meta Platforms by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after buying an additional 51,900 shares in the last quarter. Donoghue Forlines LLC lifted its position in shares of Meta Platforms by 94.4% during the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after acquiring an additional 4,054 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Meta Platforms by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after acquiring an additional 32,423 shares in the last quarter. Finally, Voyager Global Management LP grew its holdings in shares of Meta Platforms by 37.3% in the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after acquiring an additional 140,000 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 585 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total value of $287,381.25. Following the sale, the insider now owns 37,228 shares in the company, valued at $18,288,255. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 585 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $491.25, for a total value of $287,381.25. Following the completion of the sale, the insider now directly owns 37,228 shares of the company’s stock, valued at approximately $18,288,255. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 1,712 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $502.27, for a total transaction of $859,886.24. Following the completion of the sale, the chief executive officer now owns 129,888 shares in the company, valued at $65,238,845.76. The disclosure for this sale can be found here. Insiders sold a total of 311,106 shares of company stock worth $154,542,945 over the last three months. 13.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wolfe Research began coverage on Meta Platforms in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target for the company. TD Cowen raised their target price on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Rosenblatt Securities lifted their target price on shares of Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Roth Mkm upped their price target on shares of Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, BNP Paribas started coverage on shares of Meta Platforms in a research report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $519.10.

Meta Platforms Stock Performance

Shares of NASDAQ META traded up $0.94 during trading hours on Friday, hitting $476.79. 15,149,416 shares of the stock were exchanged, compared to its average volume of 13,694,282. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81. The company’s 50 day moving average is $493.41 and its 200 day moving average is $471.18. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a market capitalization of $1.21 trillion, a P/E ratio of 27.39, a P/E/G ratio of 1.23 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. On average, research analysts expect that Meta Platforms, Inc. will post 20.21 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.