Meta Platforms, Inc. (NASDAQ:META) is World Investment Advisors LLC’s 4th Largest Position

World Investment Advisors LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4,658.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 909,548 shares of the social networking company’s stock after purchasing an additional 890,434 shares during the quarter. Meta Platforms makes up 2.9% of World Investment Advisors LLC’s holdings, making the stock its 4th largest position. World Investment Advisors LLC’s holdings in Meta Platforms were worth $520,662,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Twelve Points Wealth Management LLC purchased a new stake in shares of Meta Platforms during the second quarter worth about $240,000. Peak Financial Advisors LLC purchased a new position in Meta Platforms in the 2nd quarter valued at about $3,148,000. Fermata Advisors LLC boosted its holdings in Meta Platforms by 14.3% in the 2nd quarter. Fermata Advisors LLC now owns 2,285 shares of the social networking company’s stock worth $1,152,000 after buying an additional 285 shares during the last quarter. Sitrin Capital Management LLC increased its stake in Meta Platforms by 1,058.8% during the 2nd quarter. Sitrin Capital Management LLC now owns 9,850 shares of the social networking company’s stock worth $4,967,000 after buying an additional 9,000 shares in the last quarter. Finally, Inspirion Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 48.5% during the second quarter. Inspirion Wealth Advisors LLC now owns 784 shares of the social networking company’s stock valued at $395,000 after acquiring an additional 256 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Up 2.4 %

Shares of META stock opened at $623.77 on Friday. Meta Platforms, Inc. has a fifty-two week low of $317.77 and a fifty-two week high of $629.79. The company has a 50 day moving average price of $579.64 and a 200 day moving average price of $532.13. The stock has a market capitalization of $1.57 trillion, a P/E ratio of 29.38, a price-to-earnings-growth ratio of 1.35 and a beta of 1.20. 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 (NASDAQ:META) last issued its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating 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. Equities research analysts predict that Meta Platforms, Inc. will post 22.68 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Monday, December 16th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, December 16th. This represents a $2.00 annualized dividend and a yield of 0.32%. Meta Platforms’s payout ratio is 9.42%.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 492 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $600.75, for a total value of $295,569.00. Following the transaction, the chief executive officer now owns 518,508 shares of the company’s stock, valued at $311,493,681. This represents a 0.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Aaron Anderson sold 731 shares of Meta Platforms stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $557.00, for a total value of $407,167.00. Following the sale, the chief accounting officer now directly owns 3,414 shares of the company’s stock, 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. Insiders have sold a total of 142,160 shares of company stock worth $81,611,223 in the last quarter. 13.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

META has been the subject of several research reports. Wells Fargo & Company dropped their price target on Meta Platforms from $652.00 to $641.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their price target on shares of Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Finally, Mizuho boosted their target price on Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $634.71.

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.