Nicholas Hoffman & Company LLC. Decreases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Nicholas Hoffman & Company LLC. reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,171 shares of the social networking company’s stock after selling 20 shares during the period. Nicholas Hoffman & Company LLC.’s holdings in Meta Platforms were worth $3,532,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. International Assets Investment Management LLC increased its stake in shares of Meta Platforms by 57,001.5% in the 3rd 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 acquiring an additional 9,500,444 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Jennison Associates LLC increased its position in Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. Sustainable Growth Advisers LP purchased a new position in Meta Platforms during the second quarter worth about $595,152,000. Finally, Vanguard Group Inc. boosted its holdings in Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

META has been the topic of several analyst reports. Scotiabank reduced their price target on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday. TD Cowen lifted their target price on Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Stifel Nicolaus upped their price target on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Finally, Evercore ISI upped their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $634.10.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 420 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total transaction of $252,071.40. Following the transaction, the chief executive officer now owns 518,004 shares in the company, valued at $310,890,460.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $580.10, for a total transaction of $524,990.50. Following the completion of the sale, the insider now owns 31,482 shares in the company, valued at $18,262,708.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 420 shares of Meta Platforms stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $600.17, for a total transaction of $252,071.40. Following the completion of the transaction, the chief executive officer now owns 518,004 shares in the company, valued at approximately $310,890,460.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 251,993 shares of company stock worth $133,271,982. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $567.16 on Friday. The stock’s 50-day simple moving average is $555.99 and its 200-day simple moving average is $513.03. The firm has a market capitalization of $1.43 trillion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.44 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $308.33 and a fifty-two week high of $602.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 36.26%. The company had revenue of $40.59 billion for the quarter, compared to analysts’ expectations of $40.21 billion. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 21.47 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 9.42%.

Meta Platforms Company 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.