Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Mount Vernon Associates Inc. MD

Mount Vernon Associates Inc. MD reduced its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,595 shares of the social networking company’s stock after selling 24 shares during the quarter. Meta Platforms comprises 6.2% of Mount Vernon Associates Inc. MD’s holdings, making the stock its 6th largest holding. Mount Vernon Associates Inc. MD’s holdings in Meta Platforms were worth $7,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Integrated Investment Consultants LLC boosted its holdings in shares of Meta Platforms by 61,769.3% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after buying an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC grew its position in shares of Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after buying an additional 890,434 shares during the period. Geode Capital Management LLC increased its stake in shares of Meta Platforms by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after acquiring an additional 698,884 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Meta Platforms by 926.6% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after acquiring an additional 661,923 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $574.70, for a total transaction of $520,103.50. Following the sale, the insider now owns 32,387 shares in the company, valued at $18,612,808.90. This represents a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Nicholas Clegg sold 7,296 shares of Meta Platforms stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the transaction, the insider now owns 38,695 shares of the company’s stock, valued at approximately $21,416,908.60. This trade represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 496,174 shares of company stock worth $301,408,499 over the last quarter. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

Meta Platforms stock opened at $611.30 on Friday. The business’s 50 day simple moving average is $595.92 and its 200 day simple moving average is $555.25. Meta Platforms, Inc. has a 12 month low of $358.61 and a 12 month high of $638.40. The company has a market cap of $1.54 trillion, a price-to-earnings ratio of 28.79, a PEG ratio of 1.22 and a beta of 1.19. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analyst Upgrades and Downgrades

META has been the subject of a number of research reports. Pivotal Research raised their price target on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wolfe Research raised their target price on Meta Platforms from $670.00 to $730.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Mizuho upped their price target on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. BMO Capital Markets raised their price objective on Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Finally, Citigroup upped their target price on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus target price of $650.05.

Check Out Our Latest Stock Report on Meta Platforms

Meta Platforms Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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