Sustainable Insight Capital Management LLC Acquires 500 Shares of Meta Platforms, Inc. (NASDAQ:META)

Sustainable Insight Capital Management LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 43.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,662 shares of the social networking company's stock after acquiring an additional 500 shares during the period. Sustainable Insight Capital Management LLC's holdings in Meta Platforms were worth $958,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. AGF Management Ltd. lifted its position in shares of Meta Platforms by 29.0% in the first quarter. AGF Management Ltd. now owns 701,914 shares of the social networking company's stock worth $404,555,000 after buying an additional 157,902 shares in the last quarter. Gouws Capital LLC lifted its position in shares of Meta Platforms by 230.0% in the first quarter. Gouws Capital LLC now owns 1,980 shares of the social networking company's stock worth $1,141,000 after buying an additional 1,380 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Meta Platforms by 21.7% in the first quarter. Public Sector Pension Investment Board now owns 1,007,707 shares of the social networking company's stock worth $580,802,000 after buying an additional 179,663 shares in the last quarter. Eagle Global Advisors LLC lifted its position in shares of Meta Platforms by 304.2% in the first quarter. Eagle Global Advisors LLC now owns 20,428 shares of the social networking company's stock worth $11,774,000 after buying an additional 15,374 shares in the last quarter. Finally, AIA Group Ltd lifted its position in shares of Meta Platforms by 9.9% in the first quarter. AIA Group Ltd now owns 102,192 shares of the social networking company's stock worth $58,899,000 after buying an additional 9,178 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Analyst Upgrades and Downgrades

META has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Meta Platforms from $795.00 to $875.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Morgan Stanley upped their price objective on Meta Platforms from $750.00 to $850.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Benchmark upped their price objective on Meta Platforms from $800.00 to $890.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. TD Securities decreased their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Guggenheim restated a "buy" rating and set a $800.00 price objective (up from $725.00) on shares of Meta Platforms in a research report on Monday, July 28th. Four equities research 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 stock. According to MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target of $822.41.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Christopher K. Cox sold 60,000 shares of Meta Platforms stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the completion of the transaction, the insider owned 237,205 shares in the company, valued at approximately $184,059,219.75. This trade represents a 20.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $753.43, for a total value of $11,939,605.21. The disclosure for this sale can be found here. Insiders have sold a total of 269,243 shares of company stock valued at $200,605,051 in the last quarter. Company insiders own 13.61% of the company's stock.

Meta Platforms Stock Performance

Shares of META stock opened at $782.13 on Friday. The firm has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 1.62 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97. The business has a fifty day moving average of $722.68 and a 200 day moving average of $654.81. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $795.46.

Meta Platforms (NASDAQ:META - Get Free Report) last issued its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. The company had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The firm's quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter last year, the business posted $5.16 EPS. As a group, research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

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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