Mirabella Financial Services LLP Lowers Stake in Meta Platforms, Inc. $META

Mirabella Financial Services LLP lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 73.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,018 shares of the social networking company’s stock after selling 46,111 shares during the period. Meta Platforms comprises 1.3% of Mirabella Financial Services LLP’s portfolio, making the stock its 17th largest holding. Mirabella Financial Services LLP’s holdings in Meta Platforms were worth $12,587,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bare Financial Services Inc purchased a new position in shares of Meta Platforms during the 2nd quarter worth $30,000. Evergreen Private Wealth LLC grew its position in shares of Meta Platforms by 237.5% in the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 38 shares during the period. Briaud Financial Planning Inc acquired a new position in Meta Platforms in the second quarter valued at $42,000. Knuff & Co LLC purchased a new position in Meta Platforms during the second quarter worth about $44,000. Finally, WFA Asset Management Corp boosted its stake in Meta Platforms by 42.6% in the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after buying an additional 20 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, CAO Aaron Anderson sold 726 shares of Meta Platforms stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total transaction of $429,501.60. Following the sale, the chief accounting officer owned 6,035 shares in the company, valued at $3,570,306. This trade represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $642.22, for a total transaction of $333,312.18. Following the transaction, the insider directly owned 30,734 shares in the company, valued at approximately $19,737,989.48. The trade was a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 41,440 shares of company stock worth $26,233,492. Insiders own 13.61% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research analyst reports. Royal Bank Of Canada dropped their price objective on shares of Meta Platforms from $840.00 to $810.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Sanford C. Bernstein restated an “outperform” rating and issued a $870.00 target price (down from $900.00) on shares of Meta Platforms in a report on Thursday, October 30th. JPMorgan Chase & Co. cut their price target on shares of Meta Platforms from $875.00 to $800.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. BNP Paribas began coverage on shares of Meta Platforms in a report on Monday, November 24th. They issued an “outperform” rating and a $800.00 price target on the stock. Finally, Benchmark cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $821.63.

Meta Platforms Stock Performance

Shares of META stock opened at $650.13 on Thursday. The company’s fifty day simple moving average is $668.73 and its 200-day simple moving average is $707.04. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.64 trillion, a PE ratio of 28.72, a P/E/G ratio of 1.38 and a beta of 1.28.

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

Meta Platforms Announces Dividend

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