Meta Platforms, Inc. (NASDAQ:META) Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd lessened its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,698 shares of the social networking company’s stock after selling 1,041 shares during the quarter. WINTON GROUP Ltd’s holdings in Meta Platforms were worth $5,898,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC grew its position in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the second quarter valued at about $38,000. Ruedi Wealth Management Inc. grew its position in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. grew its position in shares of Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at about $32,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $520.57, for a total transaction of $214,995.41. Following the completion of the transaction, the chief operating officer now owns 13,185 shares in the company, valued at approximately $6,863,715.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $520.57, for a total transaction of $214,995.41. Following the completion of the transaction, the chief operating officer now owns 13,185 shares in the company, valued at approximately $6,863,715.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the transaction, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The disclosure for this sale can be found here. Insiders sold 357,987 shares of company stock worth $185,802,769 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.6 %

Shares of META stock opened at $536.32 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $1.36 trillion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The company has a 50 day moving average price of $505.34 and a 200 day moving average price of $496.05. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.23 earnings per share. Equities research analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.37%. The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on META. Raymond James lifted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research report on Monday, July 1st. Tigress Financial lifted their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. JMP Securities reiterated a “market outperform” rating and issued a $525.00 target price on shares of Meta Platforms in a research report on Tuesday, July 30th. Evercore ISI raised their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, Loop Capital raised their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $577.26.

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.