Ninety One SA PTY Ltd Has $15.40 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Ninety One SA PTY Ltd increased its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 1,905.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 27,359 shares of the social networking company's stock after buying an additional 25,995 shares during the period. Meta Platforms comprises approximately 2.9% of Ninety One SA PTY Ltd's holdings, making the stock its 9th biggest position. Ninety One SA PTY Ltd's holdings in Meta Platforms were worth $15,400,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its stake in Meta Platforms by 1.7% during the 4th 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 boosted its stake in Meta Platforms by 10.2% during the 4th 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 boosted its stake in Meta Platforms by 3.5% during the 4th 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 boosted its stake in Meta Platforms by 3.7% during the 4th 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, Proficio Capital Partners LLC boosted its stake in Meta Platforms by 38.0% during the 4th quarter. Proficio Capital Partners LLC now owns 10,972 shares of the social networking company's stock valued at $6,424,000 after purchasing an additional 3,019 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer directly owned 1,183 shares in the company, valued at approximately $753,393.55. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction 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 completion of the transaction, the chief financial officer owned 70,040 shares in the company, valued at $46,181,574.40. The trade was a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 153,792 shares of company stock worth $105,466,325. 13.61% of the stock is owned by insiders.

Meta Platforms Stock Down 1.3%

Meta Platforms stock traded down $9.73 during trading hours on Friday, hitting $717.51. The company had a trading volume of 10,855,962 shares, compared to its average volume of 14,480,953. The firm has a market capitalization of $1.80 trillion, a P/E ratio of 27.98, a price-to-earnings-growth ratio of 1.78 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The firm's fifty day moving average is $674.77 and its 200-day moving average is $634.17. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. The company had revenue of $42.31 billion during 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 company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.71 earnings per share. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio is 8.19%.

Analyst Upgrades and Downgrades

META has been the topic of a number of recent analyst reports. Oppenheimer boosted their price target on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $735.00 to $795.00 and gave the stock an "overweight" rating in a research report on Friday. Robert W. Baird boosted their price target on shares of Meta Platforms from $635.00 to $740.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company boosted their price target on shares of Meta Platforms from $664.00 to $783.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Needham & Company LLC upgraded shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research report on Thursday, July 3rd. Five analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $729.38.

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.