Constellation Investimentos e Participacoes Ltda decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,230 shares of the social networking company’s stock after selling 20 shares during the period. Meta Platforms comprises 1.6% of Constellation Investimentos e Participacoes Ltda’s portfolio, making the stock its 7th largest holding. Constellation Investimentos e Participacoes Ltda’s holdings in Meta Platforms were worth $908,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Brighton Jones LLC lifted its position in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after purchasing an additional 570 shares during the period. Revolve Wealth Partners LLC lifted its position in Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after purchasing an additional 875 shares during the period. GAMMA Investing LLC lifted its position in Meta Platforms by 16.7% during the first quarter. GAMMA Investing LLC now owns 40,691 shares of the social networking company’s stock valued at $23,453,000 after purchasing an additional 5,829 shares during the period. 1776 Wealth LLC raised its position in Meta Platforms by 137.2% in the first quarter. 1776 Wealth LLC now owns 1,167 shares of the social networking company’s stock worth $673,000 after acquiring an additional 675 shares during the period. Finally, Carr Financial Group Corp raised its position in Meta Platforms by 21.1% in the first quarter. Carr Financial Group Corp now owns 1,854 shares of the social networking company’s stock worth $1,069,000 after acquiring an additional 323 shares during the period. Institutional investors own 79.91% of the company’s stock.
Meta Platforms Stock Performance
Shares of NASDAQ:META opened at $732.17 on Tuesday. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The stock has a market capitalization of $1.84 trillion, a P/E ratio of 26.51, a PEG ratio of 1.50 and a beta of 1.20. The firm has a fifty day simple moving average of $746.08 and a two-hundred day simple moving average of $686.38. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15.
Meta Platforms Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, September 22nd. Meta Platforms’s dividend payout ratio (DPR) is 7.60%.
Insider Activity at Meta Platforms
In related news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction dated Monday, October 13th. The shares were sold at an average price of $713.34, for a total transaction of $368,796.78. Following the completion of the sale, the chief operating officer owned 8,992 shares in the company, valued at $6,414,353.28. This trade represents a 5.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert M. Kimmitt sold 465 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $716.97, for a total transaction of $333,391.05. Following the completion of the sale, the director owned 7,947 shares of the company’s stock, valued at approximately $5,697,760.59. This represents a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 213,146 shares of company stock worth $164,196,453 in the last 90 days. 13.61% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Meta Platforms from $811.00 to $837.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Sanford C. Bernstein increased their price target on shares of Meta Platforms from $775.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. BMO Capital Markets increased their price target on shares of Meta Platforms from $610.00 to $710.00 and gave the stock a “market perform” rating in a research report on Thursday, July 31st. Citigroup reiterated an “outperform” rating on shares of Meta Platforms in a research report on Thursday, July 31st. Finally, Loop Capital reiterated a “buy” rating and issued a $980.00 price target (up from $888.00) on shares of Meta Platforms in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $829.66.
Check Out Our Latest Report on META
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.
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