Clal Insurance Enterprises Holdings Ltd Has $310.55 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Clal Insurance Enterprises Holdings Ltd cut its position in Meta Platforms, Inc. (NASDAQ:META) by 0.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 542,503 shares of the social networking company’s stock after selling 3,000 shares during the quarter. Meta Platforms accounts for about 2.7% of Clal Insurance Enterprises Holdings Ltd’s portfolio, making the stock its 7th largest holding. Clal Insurance Enterprises Holdings Ltd’s holdings in Meta Platforms were worth $310,550,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC raised its stake in Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after acquiring an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after purchasing an additional 118,298 shares during the last quarter. International Assets Investment Management LLC increased 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 purchasing an additional 9,500,444 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Meta Platforms by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after purchasing an additional 208,677 shares during the last quarter. Finally, Swiss National Bank boosted its position in Meta Platforms by 0.3% in the third quarter. Swiss National Bank now owns 6,504,600 shares of the social networking company’s stock valued at $3,723,493,000 after buying an additional 17,100 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on META shares. Jefferies Financial Group upped their price target on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Guggenheim increased their target price on Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Tigress Financial boosted their price target on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $670.00 price objective on shares of Meta Platforms in a report on Wednesday, October 16th. Finally, Pivotal Research lifted their target price on shares of Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $634.10.

Meta Platforms Price Performance

Shares of META opened at $559.14 on Monday. The stock has a market cap of $1.41 trillion, a P/E ratio of 26.34, a P/E/G ratio of 1.25 and a beta of 1.22. The business’s fifty day moving average is $572.74 and its 200 day moving average is $524.71. 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 12-month low of $313.66 and a 12-month high of $602.95.

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, beating analysts’ consensus estimates of $5.19 by $0.84. The firm had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts anticipate that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 7,975 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $516.36, for a total value of $4,117,971.00. Following the transaction, the chief executive officer now owns 531,884 shares in the company, valued at $274,643,622.24. The trade was a 1.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. Insiders sold a total of 152,141 shares of company stock worth $83,390,497 over the last quarter. Insiders own 13.71% of the company’s stock.

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.