Meta Platforms, Inc. $META Stock Position Raised by Te Ahumairangi Investment Management Ltd

Te Ahumairangi Investment Management Ltd boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,124 shares of the social networking company’s stock after purchasing an additional 2,137 shares during the period. Meta Platforms makes up approximately 2.4% of Te Ahumairangi Investment Management Ltd’s holdings, making the stock its 7th largest position. Te Ahumairangi Investment Management Ltd’s holdings in Meta Platforms were worth $13,377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Infusive Asset Management Inc. lifted its position in shares of Meta Platforms by 10.7% during the 1st quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock valued at $13,614,000 after buying an additional 2,285 shares in the last quarter. Spirepoint Private Client LLC boosted its position in shares of Meta Platforms by 2.7% in the second quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock worth $3,011,000 after purchasing an additional 109 shares during the period. Sequoia Financial Advisors LLC increased its stake in shares of Meta Platforms by 11.0% in the second quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock worth $155,387,000 after purchasing an additional 20,912 shares in the last quarter. Stephens Inc. AR raised its position in shares of Meta Platforms by 5.6% during the 2nd quarter. Stephens Inc. AR now owns 84,687 shares of the social networking company’s stock valued at $62,507,000 after purchasing an additional 4,473 shares during the period. Finally, Motiv8 Investments LLC lifted its stake in shares of Meta Platforms by 11.5% during the 2nd quarter. Motiv8 Investments LLC now owns 2,080 shares of the social networking company’s stock valued at $1,535,000 after buying an additional 214 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Up 1.8%

Shares of NASDAQ:META opened at $673.42 on Friday. The company has a market cap of $1.70 trillion, a price-to-earnings ratio of 29.74, a PEG ratio of 1.39 and a beta of 1.28. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $673.16 and a 200 day moving average price of $706.04.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. The business had revenue of $51.24 billion for the quarter, compared to the consensus estimate of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the business posted $6.03 earnings per share. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms’s payout ratio is presently 9.28%.

Analyst Ratings Changes

A number of equities research analysts have commented on META shares. Weiss Ratings reissued a “buy (b)” rating on shares of Meta Platforms in a report on Monday. Truist Financial lowered their price target on Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. DA Davidson set a $825.00 price objective on shares of Meta Platforms in a report on Thursday, October 30th. UBS Group upped their target price on shares of Meta Platforms from $900.00 to $915.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Roth Capital reiterated a “buy” rating on shares of Meta Platforms in a report on Thursday, October 30th. Five investment analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $819.43.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 11,690 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the completion of the transaction, the chief technology officer owned 2,415 shares in the company, valued at $1,432,843.65. The trade was a 82.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Susan J. Li sold 6,875 shares of the stock in a transaction that occurred on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $4,190,037.50. Following the completion of the sale, the chief financial officer owned 88,370 shares in the company, valued at approximately $53,857,980.20. The trade was a 7.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 41,959 shares of company stock valued at $26,671,107. Insiders own 13.61% of the company’s stock.

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.