Earnest Partners LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 9.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,021 shares of the social networking company’s stock after selling 102 shares during the period. Earnest Partners LLC’s holdings in Meta Platforms were worth $496,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new stake in Meta Platforms during the fourth quarter worth about $11,285,855,000. International Assets Investment Management LLC grew its position in Meta Platforms by 11,154.4% during the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after buying an additional 4,908,251 shares in the last quarter. Capital Research Global Investors grew its position in Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after buying an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management grew its position in Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after buying an additional 3,104,550 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.
Insider Activity at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total value of $483,224.75. Following the completion of the sale, the insider now owns 36,940 shares in the company, valued at $19,724,113. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the sale, the chief operating officer now owns 15,376 shares in the company, valued at $7,268,235.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total value of $483,224.75. Following the transaction, the insider now owns 36,940 shares of the company’s stock, valued at $19,724,113. The disclosure for this sale can be found here. Over the last three months, insiders sold 311,175 shares of company stock valued at $154,616,712. 13.71% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
View Our Latest Report on Meta Platforms
Meta Platforms Stock Up 0.6 %
NASDAQ:META traded up $2.85 on Tuesday, hitting $468.56. 3,058,917 shares of the company’s stock were exchanged, compared to its average volume of 16,072,878. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.68 and a quick ratio of 2.68. The firm has a 50-day moving average price of $493.14 and a 200-day moving average price of $476.77. The company has a market cap of $1.19 trillion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 1.20 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $542.81.
Meta Platforms Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.43%. Meta Platforms’s dividend payout ratio is presently 11.49%.
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.
Featured Articles
- Five stocks we like better than Meta Platforms
- What is a Secondary Public Offering? What Investors Need to Know
- Aerospace Stock Fires Up a Solid EPS Beat and Raises Guidance
- Investing in the High PE Growth Stocks
- Pharma Stock Cuts Earnings Outlook: Still a Buying Opportunity
- Do ETFs Pay Dividends? What You Need to Know
- This Semiconductor Stock Is ON Track for a New High
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META – Free Report).
Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.