Meta Platforms, Inc. (NASDAQ:META) is Artemis Investment Management LLP’s 4th Largest Position

Artemis Investment Management LLP reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 14.4% in the 3rd quarter, Holdings Channel reports. The firm owned 281,203 shares of the social networking company’s stock after selling 47,448 shares during the quarter. Meta Platforms accounts for about 2.5% of Artemis Investment Management LLP’s portfolio, making the stock its 4th largest position. Artemis Investment Management LLP’s holdings in Meta Platforms were worth $160,972,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Sugarloaf Wealth Management LLC boosted its position in shares of Meta Platforms by 18.3% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 485 shares of the social networking company’s stock worth $278,000 after purchasing an additional 75 shares during the period. Atomi Financial Group Inc. lifted its holdings in Meta Platforms by 1.0% during the 3rd quarter. Atomi Financial Group Inc. now owns 61,803 shares of the social networking company’s stock worth $35,379,000 after buying an additional 634 shares during the last quarter. Traveka Wealth LLC boosted its holdings in Meta Platforms by 7.3% in the third quarter. Traveka Wealth LLC now owns 4,156 shares of the social networking company’s stock valued at $2,379,000 after purchasing an additional 281 shares in the last quarter. Legacy Private Trust Co. grew its position in shares of Meta Platforms by 1.2% in the 3rd quarter. Legacy Private Trust Co. now owns 21,684 shares of the social networking company’s stock valued at $12,413,000 after buying an additional 253 shares during the last quarter. Finally, Clean Yield Group increased its position in shares of Meta Platforms by 90.0% during the third quarter. Clean Yield Group now owns 114 shares of the social networking company’s stock worth $65,000 after purchasing an additional 54 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the transaction, the insider now owns 338,662 shares of the company’s stock, valued at approximately $188,810,838.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 266,332 shares of company stock valued at $139,981,833 in the last quarter. Company insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on META shares. Bank of America upped their price target on shares of Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. JMP Securities raised their price objective on shares of Meta Platforms from $550.00 to $635.00 and gave the company a “market outperform” rating in a research note on Thursday, September 26th. Stifel Nicolaus boosted their target price on Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Susquehanna increased their target price on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Finally, Morgan Stanley lifted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $601.08.

Meta Platforms Trading Up 1.4 %

NASDAQ:META opened at $592.89 on Wednesday. The company has a market cap of $1.50 trillion, a PE ratio of 34.05, a P/E/G ratio of 1.39 and a beta of 1.22. The business’s 50 day moving average is $532.05 and its two-hundred day moving average is $503.76. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $602.95.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the firm posted $3.23 EPS. On average, analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

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.