Meta Platforms, Inc. (NASDAQ:META) is Dupont Capital Management Corp’s 8th Largest Position

Dupont Capital Management Corp lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 48,113 shares of the social networking company’s stock after selling 5,377 shares during the quarter. Meta Platforms makes up about 2.3% of Dupont Capital Management Corp’s investment portfolio, making the stock its 8th biggest position. Dupont Capital Management Corp’s holdings in Meta Platforms were worth $27,542,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. G&S Capital LLC purchased a new stake in Meta Platforms in the 1st quarter valued at $218,000. Aspiriant LLC raised its position in Meta Platforms by 13.9% in the 1st quarter. Aspiriant LLC now owns 13,355 shares of the social networking company’s stock valued at $6,485,000 after purchasing an additional 1,633 shares during the last quarter. RFG Holdings Inc. purchased a new stake in Meta Platforms in the 1st quarter valued at $512,000. Defined Wealth Management LLC purchased a new stake in Meta Platforms in the 1st quarter valued at $240,000. Finally, DGS Capital Management LLC raised its position in Meta Platforms by 15.7% in the 1st quarter. DGS Capital Management LLC now owns 12,364 shares of the social networking company’s stock valued at $6,004,000 after purchasing an additional 1,681 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on META shares. Wells Fargo & Company upped their price target on shares of Meta Platforms from $647.00 to $652.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a research note on Wednesday, October 16th. Tigress Financial boosted their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Barclays boosted their price objective 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. Finally, Guggenheim boosted their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $619.20.

Meta Platforms Price Performance

Meta Platforms stock opened at $567.78 on Friday. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $602.95. The stock has a market capitalization of $1.44 trillion, a P/E ratio of 32.61, a P/E/G ratio of 1.45 and a beta of 1.22. The firm’s 50-day moving average is $549.53 and its two-hundred day moving average is $509.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last released 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. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the company earned $3.23 EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts predict that Meta Platforms, Inc. will post 21.37 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total value of $520,103.50. Following the sale, the insider now directly owns 32,387 shares of the company’s stock, valued at approximately $18,612,808.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total transaction of $520,103.50. Following the transaction, the insider now directly owns 32,387 shares in the company, valued at approximately $18,612,808.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,817 shares of company stock valued at $132,547,715. Insiders own 13.71% of the company’s stock.

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.