Meta Platforms, Inc. $META is Jag Capital Management LLC’s 4th Largest Position

Jag Capital Management LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 75,659 shares of the social networking company’s stock after selling 2,129 shares during the period. Meta Platforms comprises approximately 6.1% of Jag Capital Management LLC’s portfolio, making the stock its 4th largest holding. Jag Capital Management LLC’s holdings in Meta Platforms were worth $55,562,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Cary Street Partners Financial LLC grew its position in Meta Platforms by 0.4% in the 3rd quarter. Cary Street Partners Financial LLC now owns 22,960 shares of the social networking company’s stock valued at $16,861,000 after acquiring an additional 102 shares during the last quarter. Bradley Foster & Sargent Inc. CT lifted its position in shares of Meta Platforms by 1.3% during the third quarter. Bradley Foster & Sargent Inc. CT now owns 44,122 shares of the social networking company’s stock worth $32,403,000 after purchasing an additional 566 shares during the last quarter. Colonial Trust Advisors boosted its stake in shares of Meta Platforms by 6.4% during the third quarter. Colonial Trust Advisors now owns 20,329 shares of the social networking company’s stock valued at $14,929,000 after purchasing an additional 1,226 shares during the period. Vawter Financial Ltd. bought a new position in shares of Meta Platforms in the third quarter worth about $217,000. Finally, JFS Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 4.8% in the third quarter. JFS Wealth Advisors LLC now owns 2,012 shares of the social networking company’s stock worth $1,478,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, CFO Susan J. Li sold 55,702 shares of the business’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $633.61, for a total transaction of $35,293,344.22. Following the completion of the transaction, the chief financial officer owned 13,186 shares in the company, valued at $8,354,781.46. The trade was a 80.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert M. Kimmitt sold 580 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $639.18, for a total transaction of $370,724.40. Following the sale, the director directly owned 5,007 shares of the company’s stock, valued at $3,200,374.26. The trade was a 10.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 102,801 shares of company stock valued at $65,693,069 over the last 90 days. 13.61% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Up 0.8%

Shares of NASDAQ META opened at $653.56 on Tuesday. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The stock’s fifty day simple moving average is $655.67 and its two-hundred day simple moving average is $683.67. The stock has a market capitalization of $1.65 trillion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 1.01 and a beta of 1.30. The company has a current ratio of 2.60, a quick ratio of 2.60 and a debt-to-equity ratio of 0.27.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, January 28th. The social networking company reported $8.88 EPS for the quarter, topping the consensus estimate of $8.16 by $0.72. Meta Platforms had a return on equity of 38.61% and a net margin of 30.08%.The firm had revenue of $59.89 billion during the quarter, compared to analyst estimates of $58.33 billion. During the same period in the previous year, the company posted $8.02 EPS. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. As a group, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Monday, March 16th will be given 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 is Monday, March 16th. Meta Platforms’s dividend payout ratio is presently 8.94%.

Analysts Set New Price Targets

META has been the subject of a number of research analyst reports. Wedbush lifted their price objective on shares of Meta Platforms from $880.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Rothschild & Co Redburn set a $900.00 price target on shares of Meta Platforms in a research note on Monday, January 26th. JPMorgan Chase & Co. boosted their price target on Meta Platforms from $800.00 to $825.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. Pivotal Research reduced their price objective on Meta Platforms from $930.00 to $910.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Finally, DA Davidson lifted their target price on Meta Platforms from $825.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $844.44.

Meta Platforms Company Profile

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.