Jag Capital Management LLC Has $55.56 Million Stock Holdings in Meta Platforms, Inc. $META

Jag Capital Management LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,659 shares of the social networking company’s stock after selling 2,129 shares during the quarter. Meta Platforms accounts for approximately 6.1% of Jag Capital Management LLC’s holdings, making the stock its 4th largest position. Jag Capital Management LLC’s holdings in Meta Platforms were worth $55,562,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in Meta Platforms by 0.4% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 3,506 shares of the social networking company’s stock valued at $2,587,000 after acquiring an additional 13 shares during the period. Trust Co of the South increased its position in shares of Meta Platforms by 0.8% during the 3rd quarter. Trust Co of the South now owns 1,850 shares of the social networking company’s stock valued at $1,359,000 after purchasing an additional 14 shares during the last quarter. Sentinel Pension Advisors LLC lifted its stake in shares of Meta Platforms by 1.6% in the 3rd quarter. Sentinel Pension Advisors LLC now owns 915 shares of the social networking company’s stock worth $672,000 after purchasing an additional 14 shares during the period. Alpine Bank Wealth Management boosted its holdings in shares of Meta Platforms by 0.3% in the third quarter. Alpine Bank Wealth Management now owns 4,301 shares of the social networking company’s stock worth $3,159,000 after buying an additional 14 shares during the last quarter. Finally, Valued Wealth Advisors LLC grew its position in Meta Platforms by 3.2% during the third quarter. Valued Wealth Advisors LLC now owns 454 shares of the social networking company’s stock valued at $334,000 after buying an additional 14 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 55,702 shares of the firm’s stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $633.61, for a total value of $35,293,344.22. Following the completion of the sale, the chief financial officer directly owned 13,186 shares in the company, valued at $8,354,781.46. This trade represents a 80.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert M. Kimmitt sold 580 shares of Meta Platforms stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $639.18, for a total transaction of $370,724.40. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 102,801 shares of company stock valued at $65,693,069 over the last quarter. Company insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

META stock opened at $653.56 on Tuesday. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The company has a quick ratio of 2.60, a current ratio of 2.60 and a debt-to-equity ratio of 0.27. The company has a fifty day simple moving average of $655.67 and a two-hundred day simple moving average of $683.67. The firm has a market capitalization of $1.65 trillion, a P/E ratio of 27.81, a price-to-earnings-growth ratio of 1.01 and a beta of 1.30.

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

Meta Platforms Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, March 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend payout ratio is 8.94%.

Wall Street Analyst Weigh In

META has been the subject of several recent research reports. BNP Paribas Exane assumed coverage on Meta Platforms in a report on Monday, November 24th. They set an “outperform” rating and a $800.00 price target for the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $810.00 price objective on shares of Meta Platforms in a research report on Thursday, January 29th. Canaccord Genuity Group boosted their target price on shares of Meta Platforms from $900.00 to $930.00 and gave the stock a “buy” rating in a report on Thursday, January 29th. Jefferies Financial Group raised their target price on shares of Meta Platforms from $910.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, Argus reiterated a “buy” rating and issued a $800.00 price target on shares of Meta Platforms in a report on Monday, February 2nd. Three research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target 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.