Investidor Profissional Gestao de Recursos Ltda. Has $16.29 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Investidor Profissional Gestao de Recursos Ltda. cut its position in Meta Platforms, Inc. (NASDAQ:META) by 16.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,462 shares of the social networking company’s stock after selling 5,793 shares during the quarter. Meta Platforms accounts for about 7.7% of Investidor Profissional Gestao de Recursos Ltda.’s holdings, making the stock its biggest holding. Investidor Profissional Gestao de Recursos Ltda.’s holdings in Meta Platforms were worth $16,293,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capital World Investors raised its position in shares of Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after acquiring an additional 244,803 shares during the last quarter. Capital Research Global Investors grew its stake in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. International Assets Investment Management LLC grew its stake in Meta Platforms by 57,001.5% in the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after acquiring an additional 9,500,444 shares during the period. Dimensional Fund Advisors LP grew its stake in Meta Platforms by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after acquiring an additional 208,677 shares during the period. Finally, Swiss National Bank grew its stake in Meta Platforms by 0.3% in the third quarter. Swiss National Bank now owns 6,504,600 shares of the social networking company’s stock valued at $3,723,493,000 after acquiring an additional 17,100 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Up 0.8 %

META stock opened at $565.52 on Thursday. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.43 trillion, a PE ratio of 26.64, a price-to-earnings-growth ratio of 1.23 and a beta of 1.22. The business has a 50 day moving average of $571.30 and a 200 day moving average of $523.03.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. On average, research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Insider Activity at Meta Platforms

In related news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the completion of the sale, the insider now owns 338,662 shares of the company’s stock, valued at $188,810,838.24. The trade was a 5.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $519.05, for a total value of $469,740.25. Following the completion of the sale, the insider now directly owns 39,627 shares of the company’s stock, valued at $20,568,394.35. The trade was a 2.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,958 shares of company stock valued at $101,181,747 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $670.00 target price on shares of Meta Platforms in a research report on Wednesday, October 16th. Robert W. Baird boosted their target price on Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Morgan Stanley boosted their price objective on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. JMP Securities boosted their price objective on Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Finally, Truist Financial boosted their target price on Meta Platforms from $570.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Two 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $634.10.

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.