Quilter Plc Has $121.04 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Quilter Plc lifted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 210,014 shares of the social networking company's stock after purchasing an additional 19,072 shares during the period. Meta Platforms accounts for approximately 2.5% of Quilter Plc's holdings, making the stock its 11th largest holding. Quilter Plc's holdings in Meta Platforms were worth $121,044,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Suvretta Capital Management LLC increased its position in shares of Meta Platforms by 1.1% in 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 increased its position in shares of Meta Platforms by 130.9% in 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. Brueske Advisory Services LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at about $459,000. Kovitz Investment Group Partners LLC increased its position in shares of Meta Platforms by 255.9% in 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. Finally, Fisher Asset Management LLC increased its position in shares of Meta Platforms by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock valued at $3,908,382,000 after acquiring an additional 110,040 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Oppenheimer boosted their price target on Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research report on Monday, June 16th. Pivotal Research lowered their price target on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Benchmark lowered their price target on Meta Platforms from $820.00 to $640.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Raymond James Financial lowered their price target on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating on the stock in a research report on Thursday, May 1st. Finally, Wedbush boosted their price objective on Meta Platforms from $680.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $719.52.

Meta Platforms Trading Down 2.6%

META traded down $18.87 during trading on Tuesday, reaching $719.22. 13,399,510 shares of the stock traded hands, compared to its average volume of 14,538,360. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.81 trillion, a PE ratio of 28.05, a P/E/G ratio of 1.80 and a beta of 1.26. The stock's 50-day moving average is $643.58 and its 200 day moving average is $627.27. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, beating 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 return on equity of 38.69% and a net margin of 39.11%. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period last year, the business posted $4.71 EPS. Equities 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. Stockholders 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 annualized dividend and a dividend yield of 0.29%. Meta Platforms's dividend payout ratio is presently 8.19%.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $704.89, for a total value of $365,837.91. Following the completion of the sale, the insider directly owned 28,145 shares in the company, valued at $19,839,129.05. This trade represents a 1.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Javier Olivan sold 517 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $683.47, for a total value of $353,353.99. Following the completion of the sale, the chief operating officer owned 8,370 shares of the company's stock, valued at approximately $5,720,643.90. This represents a 5.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,095 shares of company stock valued at $93,076,345. 13.61% of the stock is currently owned by corporate insiders.

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.