Intellectus Partners LLC Has $10.35 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Intellectus Partners LLC trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 17.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,088 shares of the social networking company’s stock after selling 3,870 shares during the period. Meta Platforms comprises about 2.6% of Intellectus Partners LLC’s investment portfolio, making the stock its 4th largest position. Intellectus Partners LLC’s holdings in Meta Platforms were worth $10,354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Meta Platforms by 0.4% during 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. Capital World Investors increased its holdings in shares of Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after buying an additional 244,803 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares in the last quarter. GQG Partners LLC grew its position in Meta Platforms by 3.1% during the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after acquiring an additional 342,742 shares during the last quarter. Finally, International Assets Investment Management LLC grew its position in Meta Platforms by 57,001.5% during 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. 79.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the transaction, the insider now owns 338,662 shares in the company, valued at approximately $188,810,838.24. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $567.70, for a total value of $511,497.70. Following the completion of the sale, the insider now owns 30,581 shares in the company, valued at $17,360,833.70. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 141,498 shares of company stock worth $75,732,154 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

Shares of META opened at $554.08 on Monday. The company has a 50 day moving average of $568.11 and a 200-day moving average of $521.17. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $1.40 trillion, a P/E ratio of 26.10, a P/E/G ratio of 1.23 and a beta of 1.22. Meta Platforms, Inc. has a twelve month low of $313.66 and a twelve month high of $602.95.

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

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.42%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Rosenblatt Securities restated a “buy” rating and set a $811.00 target price on shares of Meta Platforms in a report on Thursday, October 31st. Loop Capital increased their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. DA Davidson initiated coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price for the company. Jefferies Financial Group increased their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Scotiabank dropped their price objective on shares of Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

About Meta Platforms

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.