True Vision MN LLC Lowers Holdings in Meta Platforms, Inc. (NASDAQ:META)

True Vision MN LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 9.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 772 shares of the social networking company’s stock after selling 82 shares during the quarter. True Vision MN LLC’s holdings in Meta Platforms were worth $442,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of META. Jennison Associates LLC lifted its holdings in Meta Platforms by 1.9% in the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after acquiring an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. raised its position in 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 acquiring an additional 118,298 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after acquiring an additional 9,500,444 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of 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 period. Finally, Fisher Asset Management LLC increased its stake in shares of Meta Platforms by 4.6% in the 3rd quarter. Fisher Asset Management LLC now owns 6,565,134 shares of the social networking company’s stock worth $3,758,146,000 after purchasing an additional 289,207 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $569.20 on Friday. The firm has a 50 day moving average of $574.75 and a 200 day moving average of $526.33. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a 52 week low of $313.66 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, sell-side analysts predict that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 492 shares of Meta Platforms stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $600.75, for a total transaction of $295,569.00. Following the completion of the transaction, the chief executive officer now directly owns 518,508 shares of the company’s stock, valued at $311,493,681. The trade was a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total transaction of $511,596.50. Following the sale, the insider now owns 37,790 shares in the company, valued at approximately $21,362,687. This represents a 2.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 106,239 shares of company stock valued at $59,681,541 over the last 90 days. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Guggenheim lifted their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a report on Monday, October 7th. Scotiabank reduced their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a research note on Thursday, October 31st. KeyCorp raised their price objective on shares of Meta Platforms from $560.00 to $655.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Finally, Oppenheimer increased their price target on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $634.71.

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.