Meta Platforms, Inc. $META Stock Position Decreased by Himension Capital Singapore PTE. LTD.

Himension Capital Singapore PTE. LTD. trimmed its stake in Meta Platforms, Inc. (NASDAQ:META) by 10.4% during the second quarter, HoldingsChannel.com reports. The fund owned 12,455 shares of the social networking company’s stock after selling 1,444 shares during the period. Meta Platforms makes up approximately 0.7% of Himension Capital Singapore PTE. LTD.’s holdings, making the stock its 18th biggest position. Himension Capital Singapore PTE. LTD.’s holdings in Meta Platforms were worth $9,193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Kingstone Capital Partners Texas LLC raised its holdings in Meta Platforms by 608,429.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock worth $44,119,937,000 after buying an additional 59,766,000 shares during the period. Laurel Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 73,443.1% in the second quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company’s stock worth $6,212,506,000 after buying an additional 8,405,558 shares during the period. Nuveen LLC purchased a new position in shares of Meta Platforms in the first quarter worth approximately $2,990,544,000. Vanguard Group Inc. raised its holdings in shares of Meta Platforms by 0.8% during the second quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock valued at $142,149,566,000 after acquiring an additional 1,532,568 shares during the period. Finally, Amundi lifted its position in shares of Meta Platforms by 23.5% in the 1st quarter. Amundi now owns 7,733,061 shares of the social networking company’s stock valued at $4,111,050,000 after acquiring an additional 1,470,070 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Meta Platforms

In other Meta Platforms news, Director Robert M. Kimmitt sold 600 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $609.35, for a total transaction of $365,610.00. Following the transaction, the director directly owned 7,347 shares of the company’s stock, valued at $4,476,894.45. This represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $642.22, for a total value of $333,312.18. Following the transaction, the insider owned 30,734 shares in the company, valued at approximately $19,737,989.48. This trade represents a 1.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,959 shares of company stock valued at $26,671,107 in the last three months. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 3.4%

Shares of Meta Platforms stock opened at $661.53 on Friday. The firm has a market cap of $1.67 trillion, a price-to-earnings ratio of 29.22, a P/E/G ratio of 1.34 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The stock has a 50-day simple moving average of $674.56 and a 200-day simple moving average of $705.81.

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

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms’s payout ratio is presently 9.28%.

Wall Street Analyst Weigh In

Several research firms have weighed in on META. Wedbush reiterated an “outperform” rating and set a $920.00 price objective on shares of Meta Platforms in a research report on Thursday, October 30th. Truist Financial lowered their price target on Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Bank of America dropped their price target on Meta Platforms from $900.00 to $810.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Royal Bank Of Canada decreased their price objective on Meta Platforms from $840.00 to $810.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Finally, Citigroup reiterated a “buy” rating on shares of Meta Platforms in a report on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $819.43.

Meta Platforms Company 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.