Meta Platforms, Inc. $META Stake Reduced 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 reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 221,859 shares of the social networking company’s stock after selling 10,844 shares during the period. Meta Platforms comprises approximately 6.3% of United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s investment portfolio, making the stock its 3rd largest position. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Meta Platforms were worth $163,752,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in META. Evergreen Private Wealth LLC increased its holdings in Meta Platforms by 237.5% in the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 38 shares during the last quarter. Briaud Financial Planning Inc purchased a new position in shares of Meta Platforms during the second quarter worth $42,000. WFA Asset Management Corp grew its stake in shares of Meta Platforms by 42.6% in the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after buying an additional 20 shares in the last quarter. Maseco LLP purchased a new stake in shares of Meta Platforms in the 2nd quarter valued at $54,000. Finally, Piscataqua Savings Bank lifted its stake in Meta Platforms by 433.3% during the 2nd quarter. Piscataqua Savings Bank now owns 80 shares of the social networking company’s stock worth $59,000 after acquiring an additional 65 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert M. Kimmitt sold 600 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $609.35, for a total value of $365,610.00. Following the completion of the sale, the director directly owned 7,347 shares of the company’s stock, valued at $4,476,894.45. The trade was a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Aaron Anderson sold 726 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $591.60, for a total value of $429,501.60. Following the transaction, the chief accounting officer directly owned 6,035 shares in the company, valued at approximately $3,570,306. The trade was a 10.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 41,959 shares of company stock worth $26,671,107 over the last three months. Company insiders own 13.61% of the company’s stock.

Meta Platforms Trading Up 1.8%

NASDAQ:META opened at $673.42 on Friday. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The stock has a market cap of $1.70 trillion, a P/E ratio of 29.74, a P/E/G ratio of 1.39 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a 50-day simple moving average of $673.16 and a 200-day simple moving average of $706.04.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share for the quarter, topping the consensus estimate of $6.74 by $0.51. The firm had revenue of $51.24 billion during the quarter, compared to analysts’ expectations of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The firm’s revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.03 earnings per share. As a group, analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is 9.28%.

Analyst Upgrades and Downgrades

META has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on shares of Meta Platforms from $875.00 to $800.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $870.00 target price (down from $900.00) on shares of Meta Platforms in a research note on Thursday, October 30th. Zacks Research cut shares of Meta Platforms from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 18th. Needham & Company LLC restated a “hold” rating on shares of Meta Platforms in a research note on Thursday, October 30th. Finally, Barclays reduced their price objective on Meta Platforms from $810.00 to $770.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $819.43.

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.