Meta Platforms, Inc. (NASDAQ:META) is Jupiter Asset Management Ltd.'s 10th Largest Position

Jupiter Asset Management Ltd. decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 26.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 184,853 shares of the social networking company's stock after selling 66,149 shares during the quarter. Meta Platforms makes up approximately 1.0% of Jupiter Asset Management Ltd.'s portfolio, making the stock its 10th biggest position. Jupiter Asset Management Ltd.'s holdings in Meta Platforms were worth $106,542,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after acquiring an additional 1,049,121 shares in the last quarter. Capital World Investors raised its position in shares of Meta Platforms by 2.9% in the 4th quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after acquiring an additional 1,141,355 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Meta Platforms by 67,172.9% in the 1st quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after acquiring an additional 23,417,803 shares in the last quarter. Northern Trust Corp raised its position in shares of Meta Platforms by 13.5% in the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after acquiring an additional 2,787,832 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Meta Platforms by 2.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,007,308 shares of the social networking company's stock worth $7,030,399,000 after acquiring an additional 280,357 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded up $7.47 during trading on Friday, hitting $769.30. The stock had a trading volume of 7,308,601 shares, compared to its average volume of 13,419,927. The firm has a market cap of $1.93 trillion, a price-to-earnings ratio of 27.85, a P/E/G ratio of 1.58 and a beta of 1.27. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $784.75. The business's 50-day moving average is $714.53 and its 200 day moving average is $651.01. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, topping the consensus estimate of $5.75 by $1.39. The firm had revenue of $47.52 billion for the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The business's quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.16 earnings per share. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is currently 7.60%.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 22,449 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer owned 1,183 shares of the company's stock, valued at $753,393.55. This represents a 94.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher K. Cox sold 60,000 shares of the company's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the sale, the insider owned 237,205 shares of the company's stock, valued at approximately $184,059,219.75. The trade was a 20.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 275,024 shares of company stock valued at $199,983,159 over the last 90 days. 13.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on META shares. Guggenheim reaffirmed a "buy" rating and issued a $800.00 target price (up from $725.00) on shares of Meta Platforms in a research report on Monday, July 28th. Pivotal Research boosted their target price on Meta Platforms from $830.00 to $930.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. DA Davidson boosted their target price on Meta Platforms from $650.00 to $825.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Canaccord Genuity Group boosted their target price on Meta Platforms from $825.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Finally, Citizens Jmp boosted their target price on Meta Platforms from $750.00 to $900.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $822.41.

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.