Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Keystone Investors PTE Ltd.

Keystone Investors PTE Ltd. decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,789 shares of the social networking company's stock after selling 17,459 shares during the quarter. Meta Platforms comprises approximately 15.5% of Keystone Investors PTE Ltd.'s investment portfolio, making the stock its biggest holding. Keystone Investors PTE Ltd.'s holdings in Meta Platforms were worth $109,963,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Brighton Jones LLC grew its holdings in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares during the period. Revolve Wealth Partners LLC grew its holdings in Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after purchasing an additional 875 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in Meta Platforms by 3.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after purchasing an additional 7,587 shares during the period. Highview Capital Management LLC DE grew its holdings in Meta Platforms by 3.7% during the fourth quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock valued at $3,624,000 after purchasing an additional 218 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Meta Platforms during the fourth quarter valued at approximately $2,243,603,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 15,847 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $765.11, for a total transaction of $12,124,698.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 515 shares of Meta Platforms stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $776.38, for a total value of $399,835.70. Following the completion of the sale, the insider owned 25,035 shares of the company's stock, valued at $19,436,673.30. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 289,356 shares of company stock worth $211,138,344. Insiders own 13.61% of the company's stock.

Meta Platforms Trading Up 3.2%

Shares of META opened at $790.00 on Wednesday. The business's 50-day moving average price is $718.89 and its 200-day moving average price is $653.09. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $793.67. The stock has a market cap of $1.98 trillion, a PE ratio of 28.60, a P/E/G ratio of 1.59 and a beta of 1.27. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data 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 company 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%. Meta Platforms's revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the prior year, the business earned $5.16 earnings per share. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently issued reports on META shares. Needham & Company LLC upgraded shares of Meta Platforms from an "underperform" rating to a "hold" rating in a report on Thursday, July 3rd. Oppenheimer boosted their price objective on shares of Meta Platforms from $775.00 to $870.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. TD Cowen boosted their price objective on shares of Meta Platforms from $800.00 to $875.00 and gave the company a "buy" rating in a report on Thursday, July 31st. TD Securities cut their price target on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Robert W. Baird lifted their price target on shares of Meta Platforms from $635.00 to $740.00 and gave the company an "outperform" rating in a research note on Wednesday, July 2nd. Four 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $822.41.

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.

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