GLOBALT Investments LLC GA Has $11.87 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

GLOBALT Investments LLC GA decreased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,742 shares of the social networking company’s stock after selling 547 shares during the period. Meta Platforms accounts for about 0.4% of GLOBALT Investments LLC GA’s portfolio, making the stock its 27th biggest position. GLOBALT Investments LLC GA’s holdings in Meta Platforms were worth $11,874,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Taurus Asset Management LLC boosted its position in shares of Meta Platforms by 18.2% during the 3rd quarter. Taurus Asset Management LLC now owns 1,950 shares of the social networking company’s stock valued at $1,116,000 after purchasing an additional 300 shares in the last quarter. Quest Partners LLC boosted its position in shares of Meta Platforms by 923.3% during the 3rd quarter. Quest Partners LLC now owns 4,093 shares of the social networking company’s stock valued at $2,343,000 after purchasing an additional 3,693 shares in the last quarter. Aljian Capital Management LLC boosted its position in shares of Meta Platforms by 114.9% during the 3rd quarter. Aljian Capital Management LLC now owns 3,146 shares of the social networking company’s stock valued at $1,801,000 after purchasing an additional 1,682 shares in the last quarter. Planning Directions Inc. bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $201,000. Finally, Westfuller Advisors LLC bought a new stake in shares of Meta Platforms during the 3rd quarter valued at about $243,000. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of several recent research reports. Roth Mkm increased their price target on Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft increased their price target on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Mizuho increased their price target on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Evercore ISI increased their price target on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Tigress Financial increased their price target on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $634.10.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 620 shares of Meta Platforms stock in a transaction on Monday, November 18th. The stock was sold at an average price of $557.00, for a total transaction of $345,340.00. Following the completion of the sale, the chief operating officer now owns 19,992 shares of the company’s stock, valued at approximately $11,135,544. This trade represents a 3.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 14,746 shares of Meta Platforms stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.53, for a total value of $8,162,353.38. The disclosure for this sale can be found here. Insiders sold 185,958 shares of company stock valued at $101,181,747 over the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $565.52 on Thursday. Meta Platforms, Inc. has a one year low of $313.66 and a one year high of $602.95. The business has a fifty day moving average price of $571.30 and a 200-day moving average price of $523.03. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 26.64, a PEG ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. The firm had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is currently 9.42%.

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.