Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Tanager Wealth Management LLP

Tanager Wealth Management LLP decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 19.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,979 shares of the social networking company’s stock after selling 2,398 shares during the quarter. Meta Platforms comprises about 0.8% of Tanager Wealth Management LLP’s holdings, making the stock its 26th largest position. Tanager Wealth Management LLP’s holdings in Meta Platforms were worth $5,712,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after acquiring an additional 831,047 shares during the last quarter. Capital World Investors increased its stake in shares of Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after acquiring an additional 244,803 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the period. Finally, GQG Partners LLC grew its holdings in shares of Meta Platforms by 3.1% during the 1st quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after purchasing an additional 342,742 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on META. Mizuho boosted their target price on Meta Platforms from $600.00 to $650.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Jefferies Financial Group boosted their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Wells Fargo & Company boosted their target price on Meta Platforms from $647.00 to $652.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Oppenheimer boosted their target price on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $621.63.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total transaction of $520,103.50. Following the sale, the insider now directly owns 32,387 shares in the company, valued at $18,612,808.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $580.65, for a total transaction of $239,808.45. Following the sale, the chief operating officer now directly owns 11,120 shares in the company, valued at $6,456,828. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $574.70, for a total transaction of $520,103.50. Following the sale, the insider now owns 32,387 shares in the company, valued at approximately $18,612,808.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 250,817 shares of company stock worth $132,547,715. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

META stock opened at $573.25 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 32.93, a PEG ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $602.95. The stock’s fifty day moving average is $551.05 and its two-hundred day moving average is $510.76.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the business posted $3.23 earnings per share. On average, research analysts predict that Meta Platforms, Inc. will post 21.37 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 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

About Meta Platforms

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.