Meta Platforms, Inc. (NASDAQ:META) is Silvant Capital Management LLC’s 5th Largest Position

Silvant Capital Management LLC decreased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 162,451 shares of the social networking company’s stock after selling 4,710 shares during the period. Meta Platforms accounts for about 4.1% of Silvant Capital Management LLC’s holdings, making the stock its 5th biggest position. Silvant Capital Management LLC’s holdings in Meta Platforms were worth $92,993,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Phillips Wealth Planners LLC boosted its position in shares of Meta Platforms by 22.1% in the third quarter. Phillips Wealth Planners LLC now owns 1,198 shares of the social networking company’s stock valued at $691,000 after acquiring an additional 217 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Meta Platforms by 27.5% in the third quarter. Farther Finance Advisors LLC now owns 20,753 shares of the social networking company’s stock valued at $11,880,000 after acquiring an additional 4,478 shares during the period. Dash Acquisitions Inc. boosted its position in shares of Meta Platforms by 4.5% in the third quarter. Dash Acquisitions Inc. now owns 60,585 shares of the social networking company’s stock valued at $34,730,000 after acquiring an additional 2,629 shares during the period. Weatherly Asset Management L. P. boosted its position in shares of Meta Platforms by 4.9% in the third quarter. Weatherly Asset Management L. P. now owns 10,780 shares of the social networking company’s stock valued at $6,171,000 after acquiring an additional 499 shares during the period. Finally, Capital Advisors Inc. OK boosted its position in shares of Meta Platforms by 1.2% in the third quarter. Capital Advisors Inc. OK now owns 22,943 shares of the social networking company’s stock valued at $13,133,000 after acquiring an additional 282 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on META. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Wolfe Research began coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price for the company. Robert W. Baird lifted their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Raymond James lifted their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the company a “strong-buy” rating in a research report on Thursday, October 10th. Finally, TD Securities boosted their price objective on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $634.10.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 420 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $600.17, for a total value of $252,071.40. Following the sale, the chief executive officer now directly owns 518,004 shares of the company’s stock, valued at $310,890,460.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 420 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total transaction of $252,071.40. Following the completion of the transaction, the chief executive officer now owns 518,004 shares in the company, valued at approximately $310,890,460.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 250,040 shares of company stock valued at $132,361,588 in the last three months. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Down 1.1 %

Shares of Meta Platforms stock opened at $560.68 on Tuesday. The company has a current ratio of 2.73, a quick ratio of 2.83 and a debt-to-equity ratio of 0.18. The company’s fifty day simple moving average is $556.78 and its two-hundred day simple moving average is $513.67. The company has a market cap of $1.42 trillion, a P/E ratio of 26.41, a PEG ratio of 1.36 and a beta of 1.22. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Research analysts anticipate that Meta Platforms, Inc. will post 21.84 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 9.42%.

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.