Meta Platforms, Inc. (NASDAQ:META) is Sanders Capital LLC’s Largest Position

Sanders Capital LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 0.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,850,907 shares of the social networking company’s stock after buying an additional 11,889 shares during the period. Meta Platforms makes up about 10.7% of Sanders Capital LLC’s holdings, making the stock its biggest holding. Sanders Capital LLC owned approximately 0.51% of Meta Platforms worth $7,356,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in META. International Assets Investment Management LLC boosted its position 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 buying an additional 9,500,444 shares during the last quarter. Integrated Investment Consultants LLC raised its stake in shares of Meta Platforms by 61,769.3% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,132,870 shares of the social networking company’s stock valued at $2,365,820,000 after purchasing an additional 4,126,190 shares in the last quarter. Sustainable Growth Advisers LP acquired a new stake in shares of Meta Platforms in the 2nd quarter valued at about $595,152,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Meta Platforms by 926.6% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 733,358 shares of the social networking company’s stock valued at $369,774,000 after purchasing an additional 661,923 shares in the last quarter. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Meta Platforms in the 2nd quarter valued at about $285,690,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Down 0.8 %

Meta Platforms stock opened at $569.20 on Thursday. The company has a market capitalization of $1.44 trillion, a P/E ratio of 26.81, a P/E/G ratio of 1.25 and a beta of 1.22. The firm’s fifty day simple moving average is $574.12 and its 200-day simple moving average is $526.03. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 0.18. Meta Platforms, Inc. has a 1-year low of $313.66 and a 1-year high of $602.95.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.19 by $0.84. The business had revenue of $40.59 billion for the quarter, compared to the consensus estimate of $40.21 billion. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. Sell-side analysts forecast that Meta Platforms, Inc. will post 22.62 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 9.42%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on META shares. Mizuho upped their target price on shares of Meta Platforms from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Rosenblatt Securities restated a “buy” rating and issued a $811.00 target price on shares of Meta Platforms in a research note on Thursday, October 31st. JMP Securities upped their target price on shares of Meta Platforms from $635.00 to $660.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. Hsbc Global Res upgraded shares of Meta Platforms to a “hold” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $634.71.

Insider Activity

In related news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total value of $11,150,400.00. Following the transaction, the insider now directly owns 338,662 shares in the company, valued at approximately $188,810,838.24. This trade represents a 5.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $565.30, for a total transaction of $511,596.50. Following the completion of the transaction, the insider now owns 37,790 shares in the company, valued at $21,362,687. The trade was a 2.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,561 shares of company stock worth $62,445,464. 13.71% of the stock is owned by corporate insiders.

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.