Mirabaud & Cie SA Has $7.46 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Mirabaud & Cie SA decreased its position in Meta Platforms, Inc. (NASDAQ:META) by 11.2% in the fourth quarter, HoldingsChannel reports. The firm owned 12,746 shares of the social networking company’s stock after selling 1,615 shares during the period. Meta Platforms accounts for about 2.4% of Mirabaud & Cie SA’s investment portfolio, making the stock its 11th biggest holding. Mirabaud & Cie SA’s holdings in Meta Platforms were worth $7,463,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in META. International Assets Investment Management LLC increased 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 grew its stake in shares of Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after buying an additional 4,126,190 shares in the last quarter. World Investment Advisors LLC increased its holdings in Meta Platforms by 4,658.5% in the third quarter. World Investment Advisors LLC now owns 909,548 shares of the social networking company’s stock worth $520,662,000 after buying an additional 890,434 shares during the last quarter. Geode Capital Management LLC raised its position 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 valued at $27,470,870,000 after acquiring an additional 698,884 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Meta Platforms by 926.6% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after acquiring an additional 661,923 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Nicholas Clegg sold 7,296 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the transaction, the insider now owns 38,695 shares of the company’s stock, valued at $21,416,908.60. This trade represents a 15.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Aaron Anderson sold 731 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. The trade was a 17.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 568,016 shares of company stock valued at $346,031,180 in the last three months. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on META. Wells Fargo & Company raised their price target on shares of Meta Platforms from $641.00 to $685.00 and gave the company an “overweight” rating in a report on Monday, January 13th. UBS Group raised their target price on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a report on Thursday, October 31st. TD Cowen upped their price target on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Scotiabank reduced their target price on Meta Platforms from $585.00 to $583.00 and set a “sector perform” rating for the company in a report on Thursday, October 31st. Finally, Jefferies Financial Group increased their price target on Meta Platforms from $675.00 to $715.00 and gave the company a “buy” rating in a report on Monday, January 6th. Two equities 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $654.20.

Meta Platforms Stock Performance

META stock opened at $647.49 on Friday. Meta Platforms, Inc. has a 1-year low of $385.66 and a 1-year high of $652.00. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1.63 trillion, a PE ratio of 30.50, a P/E/G ratio of 1.18 and a beta of 1.19. The business’s 50-day moving average price is $601.93 and its two-hundred day moving average price is $560.12.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (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 business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. As a group, research analysts forecast that Meta Platforms, Inc. will post 22.96 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.31%. 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.