Meta Platforms, Inc. (NASDAQ:META) is Silvant Capital Management LLC’s 5th Largest Position

Silvant Capital Management LLC lowered its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 162,451 shares of the social networking company’s stock after selling 4,710 shares during the quarter. Meta Platforms makes up approximately 4.1% of Silvant Capital Management LLC’s holdings, making the stock its 5th biggest position. Silvant Capital Management LLC’s holdings in Meta Platforms were worth $92,993,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in META. International Assets Investment Management LLC increased its position in shares of Meta Platforms by 57,001.5% during the 3rd quarter. International Assets Investment Management LLC now owns 9,517,111 shares of the social networking company’s stock valued at $5,447,975,000 after purchasing an additional 9,500,444 shares during the last quarter. Capital Research Global Investors increased its position in shares of Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares during the last quarter. Jennison Associates LLC increased its position in shares of Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. Sustainable Growth Advisers LP purchased a new stake in shares of Meta Platforms during the 2nd quarter valued at about $595,152,000. Finally, Vanguard Group Inc. increased its position in shares of Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BMO Capital Markets increased their target price on shares of Meta Platforms from $525.00 to $530.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Mizuho increased their target price on shares of Meta Platforms from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a report on Thursday, October 24th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Finally, Jefferies Financial Group increased their target price on shares of Meta Platforms from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $634.10.

Meta Platforms Stock Down 1.1 %

Shares of META opened at $560.68 on Tuesday. The company has a market cap of $1.42 trillion, a PE ratio of 26.41, a P/E/G ratio of 1.36 and a beta of 1.22. The business has a fifty day moving average of $556.78 and a 200 day moving average of $513.67. Meta Platforms, Inc. has a 52-week low of $313.66 and a 52-week high of $602.95. The company has a quick ratio of 2.83, a current ratio of 2.73 and a debt-to-equity ratio of 0.18.

Meta Platforms (NASDAQ:META) last released its 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 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 the consensus estimate of $40.21 billion. On average, sell-side analysts expect that Meta Platforms, Inc. will post 21.84 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 420 shares of Meta Platforms stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total transaction of $252,071.40. Following the completion of the sale, the chief executive officer now directly owns 518,004 shares in the company, valued at approximately $310,890,460.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Mark Zuckerberg sold 420 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $600.17, for a total transaction of $252,071.40. Following the transaction, the chief executive officer now owns 518,004 shares in the company, valued at approximately $310,890,460.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total value of $221,747.96. Following the transaction, the chief operating officer now owns 14,424 shares in the company, valued at approximately $7,744,534.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 250,040 shares of company stock worth $132,361,588. 13.71% of the stock is currently owned by insiders.

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.