Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 17.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,984 shares of the social networking company’s stock after selling 835 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Meta Platforms were worth $2,281,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its position 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 purchasing an additional 9,500,444 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after buying an additional 4,379,826 shares in the last quarter. Sustainable Growth Advisers LP acquired a new stake in shares of Meta Platforms in the second quarter valued at about $595,152,000. Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in Meta Platforms by 30.0% during the first quarter. Canada Pension Plan Investment Board now owns 3,411,009 shares of the social networking company’s stock worth $1,656,318,000 after acquiring an additional 788,131 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $526.94, for a total value of $8,800,951.88. Following the transaction, the chief executive officer now directly owns 46,292 shares of the company’s stock, valued at $24,393,106.48. This trade represents a 26.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total transaction of $511,497.70. Following the completion of the sale, the insider now directly owns 30,581 shares of the company’s stock, valued at approximately $17,360,833.70. This trade represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,200 shares of company stock worth $84,533,106 over the last 90 days. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Down 4.0 %

Shares of Meta Platforms stock opened at $554.08 on Friday. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a P/E/G ratio of 1.28 and a beta of 1.22. The company has a 50 day moving average of $568.11 and a 200 day moving average of $520.60.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion during the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s payout ratio is currently 9.42%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on META shares. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a report on Monday, October 14th. Monness Crespi & Hardt lifted their price objective on Meta Platforms from $620.00 to $660.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Morgan Stanley boosted their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Loop Capital raised their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, Bank of America boosted their price target on shares of Meta Platforms from $630.00 to $660.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

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.