Massmutual Trust Co. FSB ADV Has $56.87 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Massmutual Trust Co. FSB ADV lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,350 shares of the social networking company’s stock after selling 582 shares during the quarter. Meta Platforms makes up approximately 1.6% of Massmutual Trust Co. FSB ADV’s holdings, making the stock its 11th biggest holding. Massmutual Trust Co. FSB ADV’s holdings in Meta Platforms were worth $56,872,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares in the last quarter. Capital World Investors grew its holdings 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 acquiring an additional 244,803 shares during the last quarter. Capital Research Global Investors grew its holdings 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 worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the last quarter. Jennison Associates LLC grew its holdings in 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 worth $6,733,731,000 after acquiring an additional 2,748,620 shares during the last quarter. Finally, GQG Partners LLC grew its holdings in Meta Platforms by 3.1% during the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after acquiring an additional 342,742 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total value of $483,224.75. Following the transaction, the insider now directly owns 36,940 shares in the company, valued at $19,724,113. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total value of $483,224.75. Following the transaction, the insider now directly owns 36,940 shares in the company, valued at $19,724,113. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 8,727 shares of the company’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $528.87, for a total transaction of $4,615,448.49. Following the completion of the transaction, the chief executive officer now owns 178,099 shares in the company, valued at $94,191,218.13. The disclosure for this sale can be found here. Insiders have sold a total of 308,462 shares of company stock worth $162,308,065 over the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $572.81 on Thursday. The company’s fifty day simple moving average is $521.88 and its 200-day simple moving average is $501.35. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.45 trillion, a PE ratio of 32.90, a P/E/G ratio of 1.39 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $583.04.

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

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s payout ratio is 11.49%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. TD Cowen increased their price objective 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. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Jefferies Financial Group increased their price objective on shares of Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wedbush reissued an “outperform” rating and set a $600.00 price objective on shares of Meta Platforms in a report on Thursday, September 26th. Finally, Robert W. Baird raised their target price on shares of Meta Platforms from $530.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $598.08.

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.