Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Nexus Investment Management ULC

Nexus Investment Management ULC cut its stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 14.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 78,959 shares of the social networking company’s stock after selling 12,979 shares during the period. Meta Platforms accounts for approximately 4.6% of Nexus Investment Management ULC’s investment portfolio, making the stock its 3rd biggest holding. Nexus Investment Management ULC’s holdings in Meta Platforms were worth $46,231,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its position in Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after acquiring an additional 698,884 shares during the last quarter. Jennison Associates LLC grew its holdings in Meta Platforms by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after buying an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after buying an additional 118,298 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of 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 buying an additional 9,500,444 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Meta Platforms by 2.8% in the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after acquiring an additional 186,728 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on META shares. Citigroup increased their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Robert W. Baird raised their price target on Meta Platforms from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. UBS Group upped their price objective on shares of Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays raised their target price on shares of Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, Morgan Stanley upped their price target on shares of Meta Platforms from $600.00 to $660.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $650.05.

Read Our Latest Report on META

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 35,921 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $616.16, for a total value of $22,133,083.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the completion of the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 495,269 shares of company stock worth $300,888,396. 13.71% of the stock is owned by company insiders.

Meta Platforms Stock Performance

Shares of META stock opened at $612.77 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a 50-day moving average of $597.37 and a 200-day moving average of $557.77. Meta Platforms, Inc. has a one year low of $370.95 and a one year high of $638.40. The company has a market cap of $1.55 trillion, a P/E ratio of 28.86, a P/E/G ratio of 1.22 and a beta of 1.19.

Meta Platforms (NASDAQ:METAGet Free Report) last released its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities research analysts forecast that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Monday, December 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.42%.

About Meta Platforms

(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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