Arrowpoint Investment Partners Singapore Pte. Ltd. Sells 17,849 Shares of Meta Platforms, Inc. $META

Arrowpoint Investment Partners Singapore Pte. Ltd. trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 86.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,703 shares of the social networking company’s stock after selling 17,849 shares during the period. Meta Platforms makes up approximately 1.8% of Arrowpoint Investment Partners Singapore Pte. Ltd.’s holdings, making the stock its 12th largest holding. Arrowpoint Investment Partners Singapore Pte. Ltd.’s holdings in Meta Platforms were worth $1,995,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in META. Kingstone Capital Partners Texas LLC raised its stake in shares of Meta Platforms by 608,429.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock valued at $44,119,937,000 after purchasing an additional 59,766,000 shares in the last quarter. Laurel Wealth Advisors LLC boosted its stake in Meta Platforms by 73,443.1% during the second quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company’s stock worth $6,212,506,000 after buying an additional 8,405,558 shares in the last quarter. Nuveen LLC bought a new stake in Meta Platforms in the 1st quarter valued at $2,990,544,000. Vanguard Group Inc. raised its stake in shares of Meta Platforms by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock valued at $142,149,566,000 after buying an additional 1,532,568 shares in the last quarter. Finally, Amundi raised its stake in shares of Meta Platforms by 23.5% in the 1st quarter. Amundi now owns 7,733,061 shares of the social networking company’s stock valued at $4,111,050,000 after buying an additional 1,470,070 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on META. Rosenblatt Securities reiterated a “buy” rating and set a $1,117.00 target price on shares of Meta Platforms in a research report on Friday. Piper Sandler decreased their price objective on Meta Platforms from $880.00 to $840.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Jefferies Financial Group lowered their price objective on Meta Platforms from $950.00 to $910.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. Barclays dropped their target price on Meta Platforms from $810.00 to $770.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Finally, BNP Paribas Exane started coverage on Meta Platforms in a research note on Monday, November 24th. They issued an “outperform” rating and a $800.00 price target on the stock. Five research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $819.43.

Insider Buying and Selling at Meta Platforms

In related news, Director Robert M. Kimmitt sold 600 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $609.35, for a total value of $365,610.00. Following the completion of the sale, the director owned 7,347 shares of the company’s stock, valued at $4,476,894.45. This trade represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 519 shares of the company’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $642.22, for a total value of $333,312.18. Following the transaction, the insider directly owned 30,734 shares in the company, valued at approximately $19,737,989.48. This represents a 1.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 41,959 shares of company stock valued at $26,671,107 over the last three months. Insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $673.42 on Friday. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The firm has a market cap of $1.70 trillion, a P/E ratio of 29.74, a P/E/G ratio of 1.39 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. The business’s fifty day moving average is $673.16 and its two-hundred day moving average is $706.04.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The business had revenue of $51.24 billion during the quarter, compared to analysts’ expectations of $49.34 billion. During the same period in the previous year, the business posted $6.03 earnings per share. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. Equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms’s dividend payout ratio is 9.28%.

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.