Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 38,135 shares of the social networking company’s stock after selling 283 shares during the period. Meta Platforms accounts for approximately 1.4% of Meeder Advisory Services Inc.’s portfolio, making the stock its 13th largest position. Meeder Advisory Services Inc.’s holdings in Meta Platforms were worth $21,830,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Capital World Investors boosted its position in 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 purchasing an additional 244,803 shares during the period. Capital Research Global Investors boosted its stake in Meta Platforms by 14.5% during 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 acquiring an additional 4,379,826 shares during the last quarter. International Assets Investment Management LLC raised its stake in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after buying an additional 9,500,444 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Meta Platforms by 2.8% during the second 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 purchasing an additional 208,677 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Meta Platforms by 0.3% in the 3rd quarter. Swiss National Bank now owns 6,504,600 shares of the social networking company’s stock valued at $3,723,493,000 after buying an additional 17,100 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on META shares. Susquehanna upped their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Loop Capital raised their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, Jefferies Financial Group lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Trading Up 0.8 %

META opened at $565.52 on Thursday. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The business has a fifty day moving average price of $571.30 and a 200 day moving average price of $523.03. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 26.64, a PEG ratio of 1.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Sell-side analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $531.46, for a total value of $8,876,444.92. Following the completion of the sale, the chief executive officer now owns 11,384 shares in the company, valued at approximately $6,050,140.64. The trade was a 59.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders have sold 185,958 shares of company stock worth $101,181,747 in the last three months. 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.