International Assets Investment Management LLC Has $10.11 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

International Assets Investment Management LLC decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 99.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,868 shares of the social networking company’s stock after selling 9,500,243 shares during the quarter. International Assets Investment Management LLC’s holdings in Meta Platforms were worth $10,108,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Meta Platforms by 1.5% in the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after purchasing an additional 698,884 shares during the last quarter. Jennison Associates LLC grew its holdings in Meta Platforms by 1.9% in the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after buying an additional 263,063 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Meta Platforms by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock worth $7,915,451,000 after buying an additional 118,298 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Meta Platforms by 2.8% in the second 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 acquiring an additional 208,677 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Meta Platforms by 2.8% in the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock worth $4,101,602,000 after acquiring an additional 186,728 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on META. The Goldman Sachs Group raised their price objective on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Scotiabank lowered their price target on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 31st. Susquehanna lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the company a “positive” rating in a report on Thursday, October 31st. Bank of America upped their target price on shares of Meta Platforms from $630.00 to $660.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Guggenheim boosted their price target on shares of Meta Platforms from $600.00 to $665.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $645.80.

Insider Buying and Selling

In other news, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the sale, the insider now owns 38,695 shares in the company, valued at $21,416,908.60. This represents a 15.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 8,951 shares of Meta Platforms stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $577.16, for a total transaction of $5,166,159.16. Following the transaction, the chief financial officer now directly owns 51,591 shares in the company, valued at approximately $29,776,261.56. This represents a 14.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 361,640 shares of company stock worth $219,037,690 in the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 1.2 %

META traded down $7.64 during trading on Wednesday, hitting $610.25. The company’s stock had a trading volume of 2,398,655 shares, compared to its average volume of 10,467,951. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 28.74, a PEG ratio of 1.36 and a beta of 1.19. Meta Platforms, Inc. has a twelve month low of $355.36 and a twelve month high of $638.40. The stock’s fifty day moving average price is $591.41 and its 200-day moving average price is $551.33. 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 (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping 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 analysts’ expectations of $40.21 billion. Analysts anticipate that Meta Platforms, Inc. will post 22.68 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Monday, December 16th. Meta Platforms’s payout ratio is 9.42%.

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.