Portfolio Design Labs LLC Has $9.30 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Portfolio Design Labs LLC cut its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,252 shares of the social networking company’s stock after selling 1,090 shares during the period. Meta Platforms makes up approximately 2.6% of Portfolio Design Labs LLC’s holdings, making the stock its 8th biggest position. Portfolio Design Labs LLC’s holdings in Meta Platforms were worth $9,303,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC raised its holdings in Meta Platforms by 1.9% during the 3rd quarter. Jennison Associates LLC now owns 14,440,868 shares of the social networking company’s stock worth $8,266,531,000 after buying an additional 263,063 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Meta Platforms by 57,001.5% during the third 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 acquiring an additional 9,500,444 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Meta Platforms by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after acquiring an additional 208,677 shares in the last quarter. Swiss National Bank boosted its stake in Meta Platforms by 0.3% in the 3rd quarter. Swiss National Bank now owns 6,504,600 shares of the social networking company’s stock worth $3,723,493,000 after purchasing an additional 17,100 shares during the period. Finally, Baillie Gifford & Co. grew its position in Meta Platforms by 5.8% during the 3rd quarter. Baillie Gifford & Co. now owns 6,150,374 shares of the social networking company’s stock worth $3,520,720,000 after purchasing an additional 338,263 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on META shares. UBS Group raised their target price on Meta Platforms from $690.00 to $719.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating and set a $600.00 target price on shares of Meta Platforms in a research note on Thursday, September 26th. Roth Mkm increased their price target on shares of Meta Platforms from $620.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Hsbc Global Res raised shares of Meta Platforms to a “hold” rating in a research report on Thursday, October 24th. Finally, Citigroup increased their target price on shares of Meta Platforms from $645.00 to $705.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Trading Down 0.7 %

Meta Platforms stock opened at $559.14 on Friday. The business has a 50 day moving average price of $572.74 and a two-hundred day moving average price of $523.96. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 12 month low of $313.66 and a 12 month high of $602.95. The stock has a market cap of $1.41 trillion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 30th. The social networking company reported $6.03 EPS for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion during the quarter, compared to analyst estimates of $40.21 billion. Meta Platforms had a return on equity of 35.60% and a net margin of 35.55%. As a group, equities analysts forecast that Meta Platforms, Inc. will post 22.53 EPS for the current year.

Meta Platforms Dividend Announcement

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

Insider Activity

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $521.35, for a total value of $215,317.55. Following the sale, the chief operating officer now directly owns 14,011 shares in the company, valued at $7,304,634.85. This represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 7,975 shares of Meta Platforms stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $516.36, for a total value of $4,117,971.00. Following the transaction, the chief executive officer now directly owns 531,884 shares of the company’s stock, valued at approximately $274,643,622.24. The trade was a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,843 shares of company stock worth $92,083,554. Corporate insiders own 13.71% of the company’s stock.

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.