Intech Investment Management LLC Has $270.72 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Intech Investment Management LLC decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472,916 shares of the social networking company’s stock after selling 73,875 shares during the quarter. Meta Platforms makes up about 3.0% of Intech Investment Management LLC’s investment portfolio, making the stock its 5th largest position. Intech Investment Management LLC’s holdings in Meta Platforms were worth $270,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of META. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Meta Platforms by 8.2% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 677,012 shares of the social networking company’s stock valued at $387,549,000 after buying an additional 51,222 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Meta Platforms by 17.9% in the 3rd quarter. King Luther Capital Management Corp now owns 117,516 shares of the social networking company’s stock worth $67,271,000 after acquiring an additional 17,883 shares in the last quarter. Cornerstone Advisors LLC boosted its holdings in shares of Meta Platforms by 2.0% in the 3rd quarter. Cornerstone Advisors LLC now owns 87,800 shares of the social networking company’s stock worth $50,260,000 after acquiring an additional 1,700 shares in the last quarter. Moran Wealth Management LLC grew its position in Meta Platforms by 0.4% during the 3rd quarter. Moran Wealth Management LLC now owns 29,908 shares of the social networking company’s stock worth $17,121,000 after acquiring an additional 106 shares during the last quarter. Finally, Moors & Cabot Inc. raised its position in Meta Platforms by 1.2% in the 3rd quarter. Moors & Cabot Inc. now owns 33,648 shares of the social networking company’s stock valued at $19,261,000 after purchasing an additional 397 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

META has been the topic of several research analyst reports. DA Davidson started coverage on Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $670.00 target price on shares of Meta Platforms in a research note on Wednesday, October 16th. BMO Capital Markets increased their price target on shares of Meta Platforms from $525.00 to $530.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Evercore ISI boosted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group upped their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Trading Down 0.7 %

Meta Platforms stock opened at $559.14 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a 50-day moving average of $572.74 and a 200-day moving average of $523.96. The company has a market cap of $1.41 trillion, a price-to-earnings ratio of 26.34, a P/E/G ratio of 1.24 and a beta of 1.22. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results 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 analysts’ expectations of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. On average, equities analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s payout ratio is 9.42%.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,843 shares of company stock worth $92,083,554. Corporate 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.