Nisa Investment Advisors LLC Reduces Holdings in Meta Platforms, Inc. (NASDAQ:META)

Nisa Investment Advisors LLC reduced its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 616,338 shares of the social networking company's stock after selling 93,447 shares during the period. Meta Platforms accounts for 1.8% of Nisa Investment Advisors LLC's holdings, making the stock its 6th biggest holding. Nisa Investment Advisors LLC's holdings in Meta Platforms were worth $355,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Suvretta Capital Management LLC lifted its position in Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after acquiring an additional 1,850 shares during the last quarter. Skye Global Management LP lifted its position in Meta Platforms by 130.9% during the fourth quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after acquiring an additional 43,200 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its position in Meta Platforms by 255.9% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock valued at $1,001,044,000 after acquiring an additional 1,229,350 shares during the last quarter. Quantinno Capital Management LP lifted its position in Meta Platforms by 25.1% during 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 last quarter. Finally, Arcadia Wealth Management Inc. acquired a new position in Meta Platforms during the 4th quarter valued at approximately $600,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 13,793 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total transaction of $9,670,686.09. Following the completion of the sale, the chief executive officer directly owned 118,279 shares in the company, valued at approximately $82,928,955.27. This trade represents a 10.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Susan J. Li sold 6,874 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $659.36, for a total transaction of $4,532,440.64. Following the sale, the chief financial officer owned 70,040 shares of the company's stock, valued at approximately $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. Over the last three months, insiders have sold 153,184 shares of company stock valued at $105,128,004. Corporate insiders own 13.61% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on META shares. KeyCorp upped their price target on shares of Meta Platforms from $645.00 to $655.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Stifel Nicolaus upped their price target on shares of Meta Platforms from $628.00 to $655.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Barclays cut their price target on shares of Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Scotiabank cut their price target on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. Finally, Cantor Fitzgerald upped their price target on shares of Meta Platforms from $676.00 to $807.00 and gave the company an "overweight" rating in a research note on Wednesday, June 18th. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $729.38.

Meta Platforms Stock Performance

NASDAQ:META opened at $717.51 on Monday. The company's 50-day moving average price is $674.77 and its 200-day moving average price is $634.57. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a market cap of $1.80 trillion, a P/E ratio of 27.98, a P/E/G ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a twelve month low of $442.65 and a twelve month high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share 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 company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period last year, the firm posted $4.71 earnings per share. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

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.

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