Meta Platforms, Inc. $META Shares Sold by Consolidated Investment Group LLC

Consolidated Investment Group LLC reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 19.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,120 shares of the social networking company’s stock after selling 1,700 shares during the period. Consolidated Investment Group LLC’s holdings in Meta Platforms were worth $5,163,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of META. Corient Private Wealth LP raised its holdings in shares of Meta Platforms by 723.1% in the 2nd quarter. Corient Private Wealth LP now owns 8,801,764 shares of the social networking company’s stock worth $4,957,946,000 after acquiring an additional 7,732,446 shares during the last quarter. Jupiter Topco LLC acquired a new position in Meta Platforms during the 2nd quarter valued at about $2,948,486,000. State Street Corp boosted its stake in Meta Platforms by 4.0% during the 2nd quarter. State Street Corp now owns 92,033,963 shares of the social networking company’s stock valued at $51,841,811,000 after purchasing an additional 3,510,123 shares during the last quarter. Bank of America Corp DE increased its holdings in Meta Platforms by 14.6% during the 1st quarter. Bank of America Corp DE now owns 21,038,035 shares of the social networking company’s stock worth $12,036,491,000 after purchasing an additional 2,673,494 shares in the last quarter. Finally, Amundi increased its holdings in Meta Platforms by 18.1% during the 1st quarter. Amundi now owns 11,858,972 shares of the social networking company’s stock worth $6,784,873,000 after purchasing an additional 1,815,017 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on META. Morgan Stanley raised their target price on Meta Platforms from $775.00 to $820.00 and gave the company an “overweight” rating in a report on Monday, October 19th. Wolfe Research reissued an “outperform” rating and issued a $700.00 price target on shares of Meta Platforms in a research report on Thursday, July 30th. Raymond James Financial raised their price objective on Meta Platforms from $650.00 to $860.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 24th. Wedbush lifted their price objective on shares of Meta Platforms from $700.00 to $730.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Finally, Evercore reiterated an “outperform” rating on shares of Meta Platforms in a research note on Thursday, October 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $833.12.

Recent Meta Platforms Headlines

Investors following META have been watching these headlines:

• Positive Sentiment: ETFs bought about $102.4 million of META shares on Nov. 11, indicating institutional demand that may have helped support the stock. 55 ETFs Add to Meta Platforms (META) on Nov. 11
• Neutral Sentiment: Meta employees are testing Takes, an in-development prediction-market app where users make forecasts using “cred,” not money. A public launch is uncertain, so any business impact remains unclear. Meta employees test prediction-market app, WSJ reports
• Negative Sentiment: A bearish technical analysis says META recently fell below its 200-day moving average, a signal that could encourage caution among momentum-focused investors. As Meta Platforms Continues To Weaken, A Bearish Trade May Be In Order

Meta Platforms Stock Up 2.9%

META opened at $641.69 on Friday. Meta Platforms, Inc. has a twelve month low of $520.26 and a twelve month high of $779.82. The company’s 50-day moving average price is $679.85 and its two-hundred day moving average price is $631.72. The stock has a market cap of $1.64 trillion, a price-to-earnings ratio of 21.88, a PEG ratio of 1.08 and a beta of 1.28. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.30.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Thursday, October 22nd. The social networking company reported $7.40 earnings per share for the quarter, topping the consensus estimate of $6.54 by $0.86. The company had revenue of $64.60 billion during the quarter, compared to analyst estimates of $63.34 billion. Meta Platforms had a return on equity of 30.73% and a net margin of 31.15%. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same quarter last year, the firm posted $7.25 EPS. As a group, equities analysts expect that Meta Platforms, Inc. will post 29.01 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 28th. Shareholders of record on Monday, September 21st were paid a $0.5250 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 21st. Meta Platforms’s dividend payout ratio is currently 7.16%.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 946 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $631.03, for a total value of $596,954.38. Following the transaction, the chief operating officer directly owned 3,148 shares in the company, valued at approximately $1,986,482.44. This represents a 23.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 148,846 shares of company stock valued at $101,660,996. Company insiders own 13.42% of the company’s stock.

Meta Platforms Profile

Meta Platforms, Inc. is a global technology company that develops social networking, messaging, and digital communication products. Its services include Facebook, Instagram, WhatsApp, Messenger, and Threads, which connect people and help businesses reach audiences around the world. The company also develops virtual and augmented reality products and technologies through its Reality Labs division, including Quest headsets and related software and services. Advertising is a central part of Meta’s business, with its platforms providing tools for businesses to promote products and services.