Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Jacobs & Co. CA

Jacobs & Co. CA trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,560 shares of the social networking company’s stock after selling 2,425 shares during the period. Meta Platforms comprises approximately 3.0% of Jacobs & Co. CA’s holdings, making the stock its 5th largest holding. Jacobs & Co. CA’s holdings in Meta Platforms were worth $29,603,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in META. International Assets Investment Management LLC grew its position in Meta Platforms by 57,001.5% in the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock worth $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC lifted its holdings in Meta Platforms by 61,769.3% in the third quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock worth $2,365,820,000 after purchasing an additional 4,126,190 shares during the period. Sustainable Growth Advisers LP bought a new position in Meta Platforms in the 2nd quarter valued at about $595,152,000. World Investment Advisors LLC increased its stake in Meta Platforms by 4,658.5% during the 3rd quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock valued at $520,662,000 after buying an additional 890,434 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock worth $27,470,870,000 after purchasing an additional 698,884 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of several research reports. Wedbush raised their price objective on shares of Meta Platforms from $640.00 to $680.00 and gave the company an “outperform” rating in a research report on Monday. The Goldman Sachs Group increased their price objective on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Sanford C. Bernstein lifted their price objective on Meta Platforms from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Robert W. Baird lifted their target price on shares of Meta Platforms from $605.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, KeyCorp increased their price target on shares of Meta Platforms from $655.00 to $700.00 and gave the stock an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $646.90.

Meta Platforms Trading Up 2.0 %

NASDAQ:META traded up $12.49 during trading hours on Friday, hitting $623.21. 14,627,602 shares of the stock were exchanged, compared to its average volume of 12,528,432. The company’s 50 day moving average is $592.65 and its two-hundred day moving average is $552.16. The company has a market capitalization of $1.57 trillion, a P/E ratio of 29.36, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a twelve month low of $358.61 and a twelve month high of $638.40.

Meta Platforms (NASDAQ:META) last issued 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. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 22.68 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.32%. The ex-dividend date of this dividend was Monday, December 16th. Meta Platforms’s dividend payout ratio is currently 9.42%.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $589.97, for a total value of $533,922.85. Following the transaction, the insider now owns 33,292 shares in the company, valued at approximately $19,641,281.24. This represents a 2.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Nicholas Clegg sold 7,296 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.48, for a total transaction of $4,038,190.08. Following the completion of the transaction, the insider now directly owns 38,695 shares in the company, valued at approximately $21,416,908.60. This represents a 15.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 410,536 shares of company stock worth $249,024,275. Insiders own 13.71% of the company’s stock.

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.