Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 232,703 shares of the social networking company’s stock after purchasing an additional 9,735 shares during the period. Meta Platforms makes up about 5.5% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings, making the stock its 3rd biggest position. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Meta Platforms were worth $134,121,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Csenge Advisory Group boosted its position in Meta Platforms by 12.0% during the first quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company’s stock worth $5,498,000 after purchasing an additional 1,019 shares in the last quarter. Suvretta Capital Management LLC boosted its position in shares of Meta Platforms by 1.1% in the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company’s stock worth $99,735,000 after buying an additional 1,850 shares in the last quarter. Skye Global Management LP grew its stake in Meta Platforms by 130.9% in the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company’s stock valued at $44,616,000 after acquiring an additional 43,200 shares during the last quarter. ARQ Wealth Advisors LLC grew its stake in Meta Platforms by 4.5% in the 1st quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company’s stock valued at $452,000 after acquiring an additional 34 shares during the last quarter. Finally, JMG Financial Group Ltd. purchased a new position in Meta Platforms during the 1st quarter valued at about $284,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction on Friday, August 1st. The shares were sold at an average price of $753.43, for a total transaction of $11,939,605.21. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the transaction, the chief technology officer directly owned 1,183 shares of the company’s stock, valued at approximately $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 199,509 shares of company stock valued at $141,509,323 over the last 90 days. Insiders own 13.61% of the company’s stock.

Meta Platforms Trading Up 1.1%

Shares of META opened at $771.99 on Thursday. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $784.75. The stock’s 50-day moving average is $709.65 and its two-hundred day moving average is $648.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market cap of $1.94 trillion, a PE ratio of 27.95, a P/E/G ratio of 1.59 and a beta of 1.27.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping the consensus estimate of $5.75 by $1.39. The firm had revenue of $47.52 billion for the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. Meta Platforms’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the previous year, the company posted $5.16 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio is 7.60%.

Analysts Set New Price Targets

Several analysts have recently commented on META shares. Cantor Fitzgerald increased their price target on shares of Meta Platforms from $828.00 to $920.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. HSBC upgraded Meta Platforms from a “hold” rating to a “buy” rating and increased their target price for the company from $610.00 to $900.00 in a report on Thursday, July 31st. Needham & Company LLC raised Meta Platforms from an “underperform” rating to a “hold” rating in a report on Thursday, July 3rd. Loop Capital reaffirmed a “buy” rating and set a $980.00 price objective (up previously from $888.00) on shares of Meta Platforms in a research note on Tuesday. Finally, KeyCorp boosted their target price on shares of Meta Platforms from $800.00 to $905.00 and gave the company an “overweight” rating in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $822.41.

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.