Meta Platforms, Inc. (NASDAQ:META) is Fisher Funds Management LTD's 9th Largest Position

Fisher Funds Management LTD lowered its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 202,893 shares of the social networking company's stock after selling 732 shares during the quarter. Meta Platforms accounts for 2.8% of Fisher Funds Management LTD's investment portfolio, making the stock its 9th biggest position. Fisher Funds Management LTD's holdings in Meta Platforms were worth $116,939,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Suvretta Capital Management LLC raised its position in Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock worth $99,735,000 after purchasing an additional 1,850 shares during the period. Skye Global Management LP raised its position in Meta Platforms by 130.9% in the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock worth $44,616,000 after purchasing an additional 43,200 shares during the period. Kovitz Investment Group Partners LLC raised its position in Meta Platforms by 255.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock worth $1,001,044,000 after purchasing an additional 1,229,350 shares during the period. Quantinno Capital Management LP increased its position in shares of Meta Platforms by 25.1% in the fourth quarter. Quantinno Capital Management LP now owns 368,499 shares of the social networking company's stock valued at $215,760,000 after acquiring an additional 73,907 shares during the period. Finally, Arcadia Wealth Management Inc. purchased a new position in shares of Meta Platforms in the fourth quarter valued at about $600,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on META. Robert W. Baird boosted their price objective on shares of Meta Platforms from $635.00 to $740.00 and gave the company an "outperform" rating in a research report on Wednesday, July 2nd. Cantor Fitzgerald boosted their price objective on shares of Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a research report on Wednesday, June 18th. Wells Fargo & Company boosted their price objective on shares of Meta Platforms from $664.00 to $783.00 and gave the company an "overweight" rating in a research report on Tuesday. Pivotal Research decreased their price objective on shares of Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, TD Cowen boosted their price objective on shares of Meta Platforms from $700.00 to $800.00 and gave the company a "buy" rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $727.95.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 6,874 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the transaction, the chief financial officer owned 70,040 shares in the company, valued at $46,181,574.40. This represents a 8.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares in the company, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 153,273 shares of company stock worth $105,091,830 over the last quarter. Company insiders own 13.61% of the company's stock.

Meta Platforms Stock Down 0.9%

Shares of NASDAQ META traded down $6.75 during midday trading on Thursday, hitting $726.03. The stock had a trading volume of 4,452,170 shares, compared to its average volume of 14,467,859. The business's 50 day moving average is $669.26 and its 200-day moving average is $632.53. The company has a market cap of $1.83 trillion, a P/E ratio of 28.36, a PEG ratio of 1.77 and a beta of 1.28. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. The firm had revenue of $42.31 billion for the quarter, compared to the consensus estimate of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business's revenue was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.71 earnings per share. As a group, analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

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.