Assenagon Asset Management S.A. Cuts Holdings in Meta Platforms, Inc. $META

Assenagon Asset Management S.A. reduced its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 28.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 922,166 shares of the social networking company's stock after selling 370,081 shares during the period. Meta Platforms comprises 0.9% of Assenagon Asset Management S.A.'s holdings, making the stock its 16th largest position. Assenagon Asset Management S.A.'s holdings in Meta Platforms were worth $677,220,000 as of its most recent SEC filing.Get Meta Platforms alerts:TL;DR: Why Reddit is the New Growth Stock to BeatA number of other institutional investors and hedge funds have also modified their holdings of META. Bare Financial Services Inc purchased a new position in shares of Meta Platforms in the second quarter valued at approximately $30,000. Evergreen Private Wealth LLC raised its position in shares of Meta Platforms by 237.5% during the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company's stock valued at $40,000 after buying an additional 38 shares during the period. Briaud Financial Planning Inc acquired a new position in Meta Platforms in the second quarter valued at approximately $42,000. Knuff & Co LLC purchased a new position in Meta Platforms in the second quarter worth approximately $44,000. Finally, WFA Asset Management Corp grew its position in Meta Platforms by 42.6% in the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company's stock worth $49,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 79.91% of the company's stock. Insiders Place Their BetsIn other Meta Platforms news, CTO Andrew Bosworth sold 11,690 shares of Meta Platforms stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the completion of the sale, the chief technology officer directly owned 2,415 shares of the company's stock, valued at $1,432,843.65. The trade was a 82.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $643.23, for a total transaction of $333,836.37. Following the sale, the insider directly owned 29,696 shares in the company, valued at approximately $19,101,358.08. The trade was a 1.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 42,074 shares of company stock valued at $26,478,698 in the last three months. Corporate insiders own 13.61% of the company's stock. Analyst Ratings ChangesBeyond the Magnificent 7: Meet 3 of Tech’s Rising StarsMETA has been the topic of a number of research analyst reports. Truist Financial reduced their target price on Meta Platforms from $900.00 to $875.00 and set a "buy" rating on the stock in a research report on Thursday, October 30th. Erste Group Bank lowered shares of Meta Platforms from a "buy" rating to a "hold" rating in a report on Monday, November 10th. Morgan Stanley decreased their target price on shares of Meta Platforms from $820.00 to $750.00 and set an "overweight" rating on the stock in a research report on Thursday, December 11th. KeyCorp dropped their price target on shares of Meta Platforms from $905.00 to $875.00 and set an "overweight" rating for the company in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. cut their price objective on Meta Platforms from $875.00 to $800.00 and set an "overweight" rating on the stock in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $819.46.Read Our Latest Stock Analysis on Meta PlatformsMeta Platforms Stock Up 2.3%Zuckerberg Eyes Metaverse Cuts: Why META Is Rightfully RallyingShares of NASDAQ:META opened at $664.45 on Friday. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The firm's 50 day moving average price is $660.69 and its 200 day moving average price is $707.10. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15. The stock has a market cap of $1.67 trillion, a price-to-earnings ratio of 29.35, a price-to-earnings-growth ratio of 1.36 and a beta of 1.28. Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping the consensus estimate of $6.74 by $0.51. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The company had revenue of $51.24 billion during the quarter, compared to analysts' expectations of $49.34 billion. During the same quarter in the previous year, the business posted $6.03 EPS. The firm's revenue was up 26.2% on a year-over-year basis. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year. Meta Platforms Dividend AnnouncementThe firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms's dividend payout ratio is 9.28%. Meta Platforms Profile (Free Report)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.Recommended StoriesFive stocks we like better than Meta PlatformsCanadian Penny Stocks: Can They Make You Rich? Broadcom Stock Crashes 20%—But Wall Street Sees It Soaring to $500Stocks with Unusual Volume: How to Find Unusual Volume Stocks in Real TimeForget the Chips: 4 Industrial Plays for the AI ReboundHow to Read Stock Charts for BeginnersMongoDB Could Hit Record Highs—But You’ll Need to Move FastWant to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Meta Platforms Right Now?Before you consider Meta Platforms, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here