Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Cut by Titan Global Capital Management USA LLC

Titan Global Capital Management USA LLC reduced its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 26.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,680 shares of the social networking company’s stock after selling 15,772 shares during the quarter. Meta Platforms comprises 3.4% of Titan Global Capital Management USA LLC’s portfolio, making the stock its 14th largest holding. Titan Global Capital Management USA LLC’s holdings in Meta Platforms were worth $21,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Natixis lifted its position in shares of Meta Platforms by 126.0% during the 1st quarter. Natixis now owns 455,820 shares of the social networking company’s stock valued at $221,337,000 after acquiring an additional 254,166 shares during the last quarter. Tiemann Investment Advisors LLC purchased a new stake in shares of Meta Platforms in the first quarter valued at $240,000. GQG Partners LLC lifted its holdings in shares of Meta Platforms by 3.1% in the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock valued at $5,582,876,000 after purchasing an additional 342,742 shares in the last quarter. Pitcairn Co. lifted its holdings in shares of Meta Platforms by 6.1% in the first quarter. Pitcairn Co. now owns 28,388 shares of the social networking company’s stock valued at $13,785,000 after purchasing an additional 1,644 shares in the last quarter. Finally, Saturna Capital Corp lifted its holdings in shares of Meta Platforms by 213.9% in the first quarter. Saturna Capital Corp now owns 2,929 shares of the social networking company’s stock valued at $1,422,000 after purchasing an additional 1,996 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 585 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $431.05, for a total transaction of $252,164.25. Following the completion of the transaction, the insider now owns 36,643 shares in the company, valued at approximately $15,794,965.15. The disclosure for this sale can be found here. Insiders have sold 311,348 shares of company stock valued at $154,678,120 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on META. Roth Mkm increased their target price on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Rosenblatt Securities increased their price objective on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Stifel Nicolaus increased their price objective on Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Canaccord Genuity Group cut their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Finally, Wolfe Research started coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $525.66.

Meta Platforms Price Performance

Shares of NASDAQ:META traded up $8.45 during trading on Friday, reaching $461.86. The stock had a trading volume of 3,855,741 shares, compared to its average volume of 16,124,491. Meta Platforms, Inc. has a 52 week low of $274.38 and a 52 week high of $542.81. The business’s 50-day moving average price is $493.33 and its 200 day moving average price is $473.80. 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 stock has a market capitalization of $1.17 trillion, a PE ratio of 26.58, a P/E/G ratio of 1.19 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. The firm had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. As a group, equities analysts predict that Meta Platforms, Inc. will post 20.23 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.43%. Meta Platforms’s dividend payout ratio (DPR) 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.