IQ EQ FUND MANAGEMENT IRELAND Ltd Has $826,000 Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 94.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,443 shares of the social networking company’s stock after acquiring an additional 701 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Meta Platforms were worth $826,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in META. Vanguard Group Inc. increased its position in shares of Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares during the period. 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 period. Capital Research Global Investors raised its position in shares of Meta Platforms by 14.5% in 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 in the last quarter. Jennison Associates LLC lifted its stake in shares of Meta Platforms by 24.7% in 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 period. Finally, GQG Partners LLC boosted its position in shares of 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 valued at $5,582,876,000 after purchasing an additional 342,742 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $489.80, for a total transaction of $443,269.00. Following the completion of the sale, the insider now owns 35,130 shares of the company’s stock, valued at $17,206,674. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the transaction, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the completion of the sale, the insider now directly owns 35,130 shares in the company, valued at approximately $17,206,674. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 250,816 shares of company stock worth $132,421,828 in the last ninety days. 13.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

META has been the subject of a number of research analyst reports. Wolfe Research assumed coverage on Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price for the company. Stifel Nicolaus boosted their target price on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday. Jefferies Financial Group increased their price target on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Scotiabank assumed coverage on shares of Meta Platforms in a report on Friday, October 11th. They set a “sector perform” rating and a $585.00 price objective for the company. Finally, Raymond James lifted their target price on Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $617.37.

Meta Platforms Stock Up 0.0 %

Shares of NASDAQ META opened at $576.93 on Friday. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95. The firm has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 33.14, a PEG ratio of 1.45 and a beta of 1.22. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average of $545.36 and a 200-day moving average of $508.09.

Meta Platforms (NASDAQ:META) last issued its quarterly 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 firm 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%. The company’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.23 earnings per share. Sell-side analysts expect that Meta Platforms, Inc. will post 21.37 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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