Pacer Advisors Inc. Sells 33,980 Shares of Meta Platforms, Inc. $META

Pacer Advisors Inc. cut its position in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 11.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 270,168 shares of the social networking company’s stock after selling 33,980 shares during the period. Pacer Advisors Inc.’s holdings in Meta Platforms were worth $198,406,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bare Financial Services Inc acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $30,000. Evergreen Private Wealth LLC raised its position in Meta Platforms by 237.5% in the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after purchasing an additional 38 shares in the last quarter. Briaud Financial Planning Inc acquired a new position in Meta Platforms in the second quarter worth about $42,000. Knuff & Co LLC bought a new position in Meta Platforms during the second quarter worth about $44,000. Finally, WFA Asset Management Corp boosted its holdings in Meta Platforms by 42.6% during the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after purchasing an additional 20 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

META has been the topic of several analyst reports. Morgan Stanley lowered their price objective on Meta Platforms from $820.00 to $750.00 and set an “overweight” rating on the stock in a research note on Thursday, December 11th. Wells Fargo & Company decreased their price target on Meta Platforms from $837.00 to $802.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Roth Capital reiterated a “buy” rating on shares of Meta Platforms in a research note on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Meta Platforms in a report on Monday, December 22nd. Finally, KeyCorp lowered their target price on shares of Meta Platforms from $905.00 to $875.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $820.22.

Read Our Latest Research Report on META

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $658.69 on Tuesday. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The firm has a market cap of $1.66 trillion, a PE ratio of 29.09, a price-to-earnings-growth ratio of 1.37 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. The business has a fifty day moving average of $653.34 and a 200-day moving average of $706.14.

Meta Platforms (NASDAQ:METAGet Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.74 by $0.51. The business had revenue of $51.24 billion for the quarter, compared to the consensus estimate of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The firm’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.03 EPS. On average, equities research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Meta Platforms’s dividend payout ratio is 9.28%.

Insider Activity at Meta Platforms

In other news, Director Robert M. Kimmitt sold 580 shares of Meta Platforms stock in a transaction on Monday, December 15th. The stock was sold at an average price of $646.00, for a total value of $374,680.00. Following the completion of the sale, the director directly owned 6,167 shares of the company’s stock, valued at approximately $3,983,882. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 517 shares of the business’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $661.11, for a total value of $341,793.87. Following the sale, the chief operating officer owned 12,717 shares of the company’s stock, valued at approximately $8,407,335.87. The trade was a 3.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 41,038 shares of company stock valued at $25,587,621 over the last quarter. Corporate insiders own 13.61% of the company’s stock.

Meta Platforms News Roundup

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

Further Reading

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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