Mirabaud & Cie SA Lowers Position in Meta Platforms, Inc. (NASDAQ:META)

Mirabaud & Cie SA decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,746 shares of the social networking company’s stock after selling 1,615 shares during the period. Meta Platforms accounts for 2.4% of Mirabaud & Cie SA’s portfolio, making the stock its 11th largest position. Mirabaud & Cie SA’s holdings in Meta Platforms were worth $7,463,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in Meta Platforms by 1.5% during the third quarter. Geode Capital Management LLC now owns 48,160,608 shares of the social networking company’s stock valued at $27,470,870,000 after buying an additional 698,884 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of 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 valued at $8,266,531,000 after acquiring an additional 263,063 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in 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 worth $7,915,451,000 after purchasing 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 valued at $5,447,975,000 after purchasing an additional 9,500,444 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Meta Platforms by 2.8% in the third quarter. Franklin Resources Inc. now owns 6,946,755 shares of the social networking company’s stock valued at $4,101,602,000 after purchasing an additional 186,728 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, CAO Aaron Anderson sold 731 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $557.00, for a total transaction of $407,167.00. Following the completion of the sale, the chief accounting officer now directly owns 3,414 shares in the company, valued at approximately $1,901,598. This trade represents a 17.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nicholas Clegg sold 7,296 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $553.48, for a total value of $4,038,190.08. Following the completion of the transaction, the insider now directly owns 38,695 shares in the company, valued at $21,416,908.60. This represents a 15.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 568,016 shares of company stock valued at $346,031,180 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Morgan Stanley increased their target price on Meta Platforms from $600.00 to $660.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Citigroup boosted 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. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a report on Thursday, October 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $811.00 price objective on shares of Meta Platforms in a report on Thursday, October 31st. Finally, UBS Group raised their target price on Meta Platforms from $690.00 to $719.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $654.20.

Meta Platforms Stock Performance

META stock opened at $647.49 on Friday. The company has a market capitalization of $1.63 trillion, a P/E ratio of 30.50, a PEG ratio of 1.18 and a beta of 1.19. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a 50-day simple moving average of $601.93 and a 200 day simple moving average of $560.12. Meta Platforms, Inc. has a fifty-two week low of $385.66 and a fifty-two week high of $652.00.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (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 business had revenue of $40.59 billion during the quarter, compared to analysts’ expectations of $40.21 billion. Sell-side analysts predict that Meta Platforms, Inc. will post 22.96 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, December 16th were issued a $0.50 dividend. The ex-dividend date was Monday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.31%. Meta Platforms’s dividend payout ratio (DPR) is 9.42%.

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.