Ninety One UK Ltd Has $102.20 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Ninety One UK Ltd cut its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 26.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 177,315 shares of the social networking company's stock after selling 65,405 shares during the quarter. Ninety One UK Ltd's holdings in Meta Platforms were worth $102,197,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in META. Brighton Jones LLC boosted its holdings in Meta Platforms by 1.7% in 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 last quarter. Revolve Wealth Partners LLC boosted its holdings in Meta Platforms by 10.2% in 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 last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Meta Platforms by 3.5% in 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 last quarter. Highview Capital Management LLC DE boosted its holdings in Meta Platforms by 3.7% in 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 last quarter. Finally, Proficio Capital Partners LLC raised its position in shares of Meta Platforms by 38.0% in the fourth quarter. Proficio Capital Partners LLC now owns 10,972 shares of the social networking company's stock worth $6,424,000 after acquiring an additional 3,019 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 1.5%

META stock traded down $10.53 during midday trading on Tuesday, reaching $710.39. The company had a trading volume of 11,425,784 shares, compared to its average volume of 15,735,748. The company has a market capitalization of $1.79 trillion, a P/E ratio of 27.71, a PEG ratio of 1.76 and a beta of 1.28. The company has a 50 day moving average of $677.20 and a two-hundred day moving average of $635.41. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. Meta Platforms, Inc. has a 1 year low of $442.65 and a 1 year 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. The business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. During the same period last year, the business posted $4.71 EPS. On average, equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.

Analyst Ratings Changes

META has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of Meta Platforms from $690.00 to $803.00 and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Truist Financial upped their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. Bank of America upped their price target on shares of Meta Platforms from $690.00 to $765.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. KeyCorp upped their price target on shares of Meta Platforms from $645.00 to $655.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, UBS Group restated a "buy" rating and set a $812.00 price target (up previously from $683.00) on shares of Meta Platforms in a research report on Thursday, June 26th. Five analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $729.38.

Insider Activity

In related news, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total transaction of $1,691,609.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 517 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $717.51, for a total transaction of $370,952.67. Following the completion of the transaction, the chief operating officer directly owned 7,336 shares of the company's stock, valued at approximately $5,263,653.36. This represents a 6.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,263 shares of company stock worth $104,638,750. Corporate insiders own 13.61% of the company's stock.

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.