Invesco LLC Has $1.89 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Invesco LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,297 shares of the social networking company’s stock after selling 25 shares during the quarter. Invesco LLC’s holdings in Meta Platforms were worth $1,887,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. grew its holdings in shares of Meta Platforms by 48.8% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 49,191 shares of the social networking company’s stock worth $23,886,000 after purchasing an additional 16,138 shares in the last quarter. Rockline Wealth Management LLC lifted its position in Meta Platforms by 6.5% during the first quarter. Rockline Wealth Management LLC now owns 14,742 shares of the social networking company’s stock worth $7,158,000 after purchasing an additional 904 shares during the period. Hunter Associates Investment Management LLC grew its stake in Meta Platforms by 5.4% during the first quarter. Hunter Associates Investment Management LLC now owns 2,093 shares of the social networking company’s stock worth $1,017,000 after buying an additional 107 shares in the last quarter. Crown Wealth Group LLC increased its holdings in Meta Platforms by 13.3% in the 1st quarter. Crown Wealth Group LLC now owns 1,887 shares of the social networking company’s stock valued at $916,000 after buying an additional 221 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Meta Platforms by 16.1% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 3,304 shares of the social networking company’s stock valued at $1,604,000 after buying an additional 459 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup lifted their price objective on shares of Meta Platforms from $645.00 to $705.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price target on Meta Platforms from $555.00 to $636.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Sanford C. Bernstein raised their price objective on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Oppenheimer lifted their target price on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group increased their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $634.10.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares in the company, valued at approximately $39,285,234.04. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the completion of the transaction, the chief executive officer now directly owns 98,654 shares in the company, valued at approximately $50,618,380.86. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 243,919 shares of company stock valued at $129,296,067. 13.71% of the stock is owned by company insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $572.43 on Wednesday. The firm has a market capitalization of $1.45 trillion, a P/E ratio of 26.96, a P/E/G ratio of 1.26 and a beta of 1.22. The firm’s 50-day moving average price is $556.78 and its 200-day moving average price is $513.67. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Equities research analysts anticipate that Meta Platforms, Inc. will post 22.44 earnings per share 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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

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.