Vinland Capital Management Gestora de Recursos LTDA. Sells 38,352 Shares of Meta Platforms, Inc. (NASDAQ:META)

Vinland Capital Management Gestora de Recursos LTDA. lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 89.4% during the second quarter, HoldingsChannel reports. The fund owned 4,560 shares of the social networking company’s stock after selling 38,352 shares during the quarter. Meta Platforms accounts for about 1.5% of Vinland Capital Management Gestora de Recursos LTDA.’s investment portfolio, making the stock its 7th biggest holding. Vinland Capital Management Gestora de Recursos LTDA.’s holdings in Meta Platforms were worth $2,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in META. Norges Bank purchased a new position in shares of Meta Platforms in the 4th quarter worth approximately $11,285,855,000. Capital Research Global Investors lifted its holdings in Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after acquiring an additional 4,440,229 shares during the period. Concentrum Wealth Management boosted its position in Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. Vanguard Group Inc. grew its stake in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on META shares. Barclays boosted their target price on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a report on Wednesday, June 12th. Stifel Nicolaus boosted their target price on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Finally, Loop Capital boosted their price objective on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $574.41.

Insiders Place Their Bets

In related news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Mark Zuckerberg sold 2,011 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the sale, the chief executive officer now directly owns 318,932 shares in the company, valued at $159,759,417.44. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The disclosure for this sale can be found here. Insiders sold 418,680 shares of company stock valued at $211,992,147 over the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.7 %

Shares of META stock opened at $528.00 on Friday. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.34 trillion, a P/E ratio of 30.33, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The business has a 50-day moving average price of $502.48 and a two-hundred day moving average price of $490.42. Meta Platforms, Inc. has a 12-month low of $276.03 and a 12-month high of $544.23.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.23 earnings per share. Equities analysts anticipate that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is presently 11.49%.

Meta Platforms 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.