Investidor Profissional Gestao de Recursos Ltda. Has $16.29 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Investidor Profissional Gestao de Recursos Ltda. lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 16.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 28,462 shares of the social networking company’s stock after selling 5,793 shares during the period. Meta Platforms accounts for about 7.7% of Investidor Profissional Gestao de Recursos Ltda.’s investment portfolio, making the stock its biggest holding. Investidor Profissional Gestao de Recursos Ltda.’s holdings in Meta Platforms were worth $16,293,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Capital World Investors grew its holdings in Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after purchasing an additional 244,803 shares during the period. Capital Research Global Investors grew its holdings in Meta Platforms by 14.5% during the first 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 purchasing an additional 4,379,826 shares during the period. International Assets Investment Management LLC grew its holdings in Meta Platforms by 57,001.5% during the third quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Meta Platforms by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after acquiring an additional 208,677 shares in the last quarter. Finally, Swiss National Bank lifted its position in shares of Meta Platforms by 0.3% in the third quarter. Swiss National Bank now owns 6,504,600 shares of the social networking company’s stock valued at $3,723,493,000 after acquiring an additional 17,100 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $531.46, for a total transaction of $8,876,444.92. Following the sale, the chief executive officer now directly owns 11,384 shares in the company, valued at $6,050,140.64. This trade represents a 59.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now owns 3,414 shares in the company, valued at $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,958 shares of company stock valued at $101,181,747. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META opened at $565.52 on Thursday. The business’s 50-day moving average is $571.30 and its two-hundred day moving average is $523.03. The company has a market capitalization of $1.43 trillion, a P/E ratio of 26.64, a P/E/G ratio of 1.23 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.73 and a current ratio of 2.73. Meta Platforms, Inc. has a fifty-two week low of $313.66 and a fifty-two week high of $602.95.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.19 by $0.84. The company had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. Research analysts predict that Meta Platforms, Inc. will post 22.53 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business 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 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research report on Thursday, August 1st. Mizuho upped their target price on Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Barclays upped their target price on Meta Platforms from $550.00 to $630.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Citigroup increased their price objective on Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group increased their price objective on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $634.10.

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.