Trust Asset Management LLC Has $14.65 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Trust Asset Management LLC lessened its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,586 shares of the social networking company’s stock after selling 79 shares during the quarter. Meta Platforms accounts for 1.2% of Trust Asset Management LLC’s portfolio, making the stock its 10th biggest holding. Trust Asset Management LLC’s holdings in Meta Platforms were worth $14,646,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC grew its holdings in Meta Platforms by 1.9% during the third quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock valued at $8,266,531,000 after purchasing an additional 263,063 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Meta Platforms by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,827,565 shares of the social networking company’s stock valued at $7,915,451,000 after acquiring an additional 118,298 shares during the period. International Assets Investment Management LLC increased its holdings 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 acquiring an additional 9,500,444 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Meta Platforms by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock worth $3,911,029,000 after acquiring an additional 208,677 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Meta Platforms by 4.6% during the third quarter. Fisher Asset Management LLC now owns 6,565,134 shares of the social networking company’s stock valued at $3,758,146,000 after purchasing an additional 289,207 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on META. BMO Capital Markets increased their price objective on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Stifel Nicolaus boosted their price objective on Meta Platforms from $590.00 to $663.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Jefferies Financial Group increased their target price on Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Finally, Oppenheimer increased their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $634.71.

Meta Platforms Stock Up 1.5 %

NASDAQ:META opened at $573.54 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.73 and a quick ratio of 2.73. The company’s fifty day moving average price is $573.38 and its 200-day moving average price is $525.35. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95. The firm has a market capitalization of $1.45 trillion, a P/E ratio of 27.02, a PEG ratio of 1.23 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating 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 analyst estimates of $40.21 billion. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 22.62 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 9.42%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the transaction, the insider now owns 37,817 shares in the company, valued at approximately $19,197,043.71. This represents a 2.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the completion of the sale, the insider now owns 338,662 shares of the company’s stock, valued at $188,810,838.24. This trade represents a 5.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,656 shares of company stock worth $61,933,867. Corporate insiders own 13.71% of the company’s stock.

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.