Dupont Capital Management Corp trimmed its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 6.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,948 shares of the social networking company’s stock after selling 4,146 shares during the period. Meta Platforms comprises about 2.6% of Dupont Capital Management Corp’s portfolio, making the stock its 8th largest holding. Dupont Capital Management Corp’s holdings in Meta Platforms were worth $31,052,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares in the last quarter. Capital World Investors lifted its stake in Meta Platforms by 2.5% in the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock worth $13,469,906,000 after purchasing an additional 927,491 shares in the last quarter. Capital International Investors lifted its stake in Meta Platforms by 3.2% in the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares in the last quarter. Norges Bank purchased a new position in Meta Platforms in the 4th quarter worth approximately $11,285,855,000. Finally, Capital Research Global Investors lifted its stake in Meta Platforms by 17.2% in the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Meta Platforms
In related news, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the completion of the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 576 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $466.33, for a total value of $268,606.08. Following the completion of the sale, the insider now directly owns 36,067 shares of the company’s stock, valued at $16,819,124.11. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 5,058 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at $7,272,152.20. The disclosure for this sale can be found here. Insiders sold a total of 311,175 shares of company stock valued at $154,616,712 over the last ninety days. Insiders own 13.71% of the company’s stock.
Meta Platforms Stock Performance
Shares of META stock opened at $463.19 on Wednesday. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a fifty day moving average price of $493.11 and a 200 day moving average price of $477.40. The company has a market cap of $1.17 trillion, a P/E ratio of 26.60, a PEG ratio of 1.20 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $542.81.
Meta Platforms Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.43%. Meta Platforms’s payout ratio is currently 11.49%.
Analyst Ratings Changes
META has been the topic of a number of research reports. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 target price on shares of Meta Platforms in a research note on Wednesday, June 12th. Rosenblatt Securities lifted their price target on shares of Meta Platforms from $520.00 to $562.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Jefferies Financial Group reduced their price target on shares of Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. UBS Group reduced their price target on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Oppenheimer lifted their price target on shares of Meta Platforms from $500.00 to $525.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $538.29.
Check Out Our Latest Report on META
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.
Further Reading
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