Meta Platforms, Inc. (NASDAQ:META) is Consolidated Press International Holdings Ltd.’s 3rd Largest Position

Consolidated Press International Holdings Ltd. lessened its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 79.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 107,197 shares of the social networking company’s stock after selling 414,609 shares during the quarter. Meta Platforms accounts for 9.6% of Consolidated Press International Holdings Ltd.’s portfolio, making the stock its 3rd biggest holding. Consolidated Press International Holdings Ltd.’s holdings in Meta Platforms were worth $61,364,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of META. JAT Capital Mgmt LP bought a new stake in Meta Platforms during the third quarter valued at about $17,552,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in Meta Platforms by 11.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,910,940 shares of the social networking company’s stock valued at $1,093,898,000 after purchasing an additional 198,935 shares during the period. Circle Wealth Management LLC grew its holdings in Meta Platforms by 19.9% during the third quarter. Circle Wealth Management LLC now owns 17,516 shares of the social networking company’s stock valued at $10,027,000 after purchasing an additional 2,913 shares during the period. Captrust Financial Advisors grew its holdings in Meta Platforms by 3.6% during the third quarter. Captrust Financial Advisors now owns 446,447 shares of the social networking company’s stock valued at $255,564,000 after purchasing an additional 15,520 shares during the period. Finally, Atlantic Union Bankshares Corp grew its holdings in Meta Platforms by 1.0% during the third quarter. Atlantic Union Bankshares Corp now owns 42,196 shares of the social networking company’s stock valued at $24,155,000 after purchasing an additional 406 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on META shares. Mizuho boosted their price target on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Loop Capital upped their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. BMO Capital Markets upped their price objective on Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a research note on Thursday, September 26th. Finally, Bank of America upped their price objective on Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two 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 assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $634.71.

Insider Activity

In related news, insider Christopher K. Cox sold 20,000 shares of the firm’s 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 sale, the insider now directly owns 338,662 shares of the company’s stock, valued at $188,810,838.24. This trade represents a 5.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the transaction, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This represents a 17.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 106,239 shares of company stock valued at $59,681,541. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.9 %

Shares of META stock opened at $574.32 on Friday. The stock’s 50-day simple moving average is $575.21 and its 200-day simple moving average is $527.37. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. The firm has a market capitalization of $1.45 trillion, a PE ratio of 27.05, a P/E/G ratio of 1.25 and a beta of 1.22. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95.

Meta Platforms (NASDAQ:META) last announced 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 business had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Equities analysts expect that Meta Platforms, Inc. will post 22.62 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

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.