Invesco Ltd. Has $12.56 Billion Position in Meta Platforms, Inc. $META

Invesco Ltd. cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.7% in the second quarter, Holdings Channel reports. The institutional investor owned 17,011,525 shares of the social networking company’s stock after selling 658,270 shares during the quarter. Meta Platforms accounts for about 2.1% of Invesco Ltd.’s portfolio, making the stock its 5th biggest holding. Invesco Ltd.’s holdings in Meta Platforms were worth $12,556,037,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Infusive Asset Management Inc. raised its stake in Meta Platforms by 10.7% during the first quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock worth $13,614,000 after buying an additional 2,285 shares during the last quarter. Spirepoint Private Client LLC increased its stake in shares of Meta Platforms by 2.7% in the 2nd quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock valued at $3,011,000 after acquiring an additional 109 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Meta Platforms by 11.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock valued at $155,387,000 after acquiring an additional 20,912 shares in the last quarter. Stephens Inc. AR grew its holdings in Meta Platforms by 5.6% in the second quarter. Stephens Inc. AR now owns 84,687 shares of the social networking company’s stock worth $62,507,000 after purchasing an additional 4,473 shares during the period. Finally, Motiv8 Investments LLC boosted its position in shares of Meta Platforms by 11.5% during the 2nd quarter. Motiv8 Investments LLC now owns 2,080 shares of the social networking company’s stock worth $1,535,000 after purchasing an additional 214 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on META shares. DA Davidson set a $825.00 price objective on shares of Meta Platforms in a report on Thursday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Thursday, October 30th. Stifel Nicolaus cut their price objective on shares of Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Raymond James Financial reissued a “strong-buy” rating and set a $825.00 price target (down from $900.00) on shares of Meta Platforms in a research report on Thursday, October 30th. Finally, Cantor Fitzgerald decreased their price target on shares of Meta Platforms from $830.00 to $720.00 and set an “overweight” rating for the company in a research note on Wednesday, November 19th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $821.63.

Insiders Place Their Bets

In related news, Director Robert M. Kimmitt sold 600 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $609.35, for a total value of $365,610.00. Following the transaction, the director directly owned 7,347 shares of the company’s stock, valued at approximately $4,476,894.45. The trade was a 7.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Andrew Bosworth sold 11,690 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total value of $6,935,793.90. Following the transaction, the chief technology officer owned 2,415 shares of the company’s stock, valued at approximately $1,432,843.65. The trade was a 82.88% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 40,923 shares of company stock worth $25,887,293. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $656.96 on Wednesday. The company’s fifty day simple moving average is $670.07 and its two-hundred day simple moving average is $707.44. The firm has a market cap of $1.66 trillion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.40 and a beta of 1.28. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders 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 yield of 0.3%. The ex-dividend date is Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is currently 9.28%.

Meta Platforms 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.