Jacobs & Co. CA Has $30.33 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Jacobs & Co. CA lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,985 shares of the social networking company’s stock after selling 873 shares during the period. Meta Platforms comprises 3.0% of Jacobs & Co. CA’s portfolio, making the stock its 4th largest holding. Jacobs & Co. CA’s holdings in Meta Platforms were worth $30,330,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. S.A. Mason LLC boosted its holdings in Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after buying an additional 20 shares in the last quarter. Front Row Advisors LLC boosted its position in Meta Platforms by 5.7% during the second quarter. Front Row Advisors LLC now owns 371 shares of the social networking company’s stock worth $187,000 after purchasing an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN grew its holdings in Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares during the period. Northern Capital Management Inc. increased its position in shares of Meta Platforms by 3.4% in the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after buying an additional 21 shares in the last quarter. Finally, Buckingham Capital Management Inc. raised its stake in shares of Meta Platforms by 5.1% during the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after buying an additional 21 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $512.00, for a total value of $210,944.00. Following the transaction, the chief operating officer now owns 6,795 shares in the company, valued at approximately $3,479,040. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The disclosure for this sale can be found here. In the last quarter, insiders sold 308,462 shares of company stock worth $162,308,065. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Down 0.6 %

NASDAQ META opened at $572.81 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $583.04. The firm has a market cap of $1.45 trillion, a price-to-earnings ratio of 32.90, a PEG ratio of 1.39 and a beta of 1.21. The firm has a 50 day simple moving average of $521.88 and a 200-day simple moving average of $501.35.

Meta Platforms (NASDAQ:META) last announced 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. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the previous year, the business earned $3.23 EPS. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analysts Forecast Growth

META has been the subject of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $660.00 price objective on shares of Meta Platforms in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays upped their target price on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. UBS Group boosted their target price on Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Guggenheim increased their price target on Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $598.08.

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.