Border to Coast Pensions Partnership Ltd Has $86.41 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Border to Coast Pensions Partnership Ltd boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 151,391 shares of the social networking company’s stock after buying an additional 6,458 shares during the period. Meta Platforms accounts for about 1.8% of Border to Coast Pensions Partnership Ltd’s investment portfolio, making the stock its 10th largest holding. Border to Coast Pensions Partnership Ltd’s holdings in Meta Platforms were worth $86,409,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Kennedy Investment Group lifted its holdings in Meta Platforms by 20.0% during the 3rd quarter. Kennedy Investment Group now owns 2,651 shares of the social networking company’s stock valued at $1,517,000 after purchasing an additional 442 shares during the last quarter. Bluesphere Advisors LLC raised its stake in shares of Meta Platforms by 42.3% in the third quarter. Bluesphere Advisors LLC now owns 1,406 shares of the social networking company’s stock worth $805,000 after acquiring an additional 418 shares during the last quarter. Berry Wealth Group LP raised its stake in shares of Meta Platforms by 5.8% in the third quarter. Berry Wealth Group LP now owns 1,342 shares of the social networking company’s stock worth $768,000 after acquiring an additional 74 shares during the last quarter. Toth Financial Advisory Corp raised its stake in shares of Meta Platforms by 4.2% in the third quarter. Toth Financial Advisory Corp now owns 1,207 shares of the social networking company’s stock worth $691,000 after acquiring an additional 49 shares during the last quarter. Finally, Wealth Effects LLC raised its stake in shares of Meta Platforms by 0.8% in the third quarter. Wealth Effects LLC now owns 11,645 shares of the social networking company’s stock worth $6,666,000 after acquiring an additional 90 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

Shares of META stock opened at $582.01 on Wednesday. The company’s fifty day simple moving average is $547.72 and its 200-day simple moving average is $509.22. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.48 trillion, a PE ratio of 33.43, a P/E/G ratio of 1.45 and a beta of 1.22. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.23 earnings per share. Equities research analysts expect that Meta Platforms, Inc. will post 21.37 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. DA Davidson assumed coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price for the company. Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $570.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Mizuho boosted their target price on shares of Meta Platforms from $600.00 to $650.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Wolfe Research started coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price for the company. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $619.20.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $600.75, for a total value of $295,569.00. Following the completion of the sale, the chief executive officer now owns 518,508 shares in the company, valued at $311,493,681. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 250,324 shares of company stock worth $132,218,368 over the last quarter. 13.71% of the stock is currently owned by insiders.

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.