Motley Fool Asset Management LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 13.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,911 shares of the social networking company’s stock after purchasing an additional 12,413 shares during the quarter. Meta Platforms accounts for about 3.7% of Motley Fool Asset Management LLC’s holdings, making the stock its 6th biggest holding. Motley Fool Asset Management LLC’s holdings in Meta Platforms were worth $79,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently made changes to their positions in META. Csenge Advisory Group boosted its stake in Meta Platforms by 12.0% in the first quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company’s stock worth $5,498,000 after buying an additional 1,019 shares in the last quarter. ARQ Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 4.5% in the 1st quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company’s stock worth $452,000 after acquiring an additional 34 shares during the last quarter. JMG Financial Group Ltd. purchased a new stake in shares of Meta Platforms in the 1st quarter valued at $284,000. Infusive Asset Management Inc. boosted its stake in shares of Meta Platforms by 10.7% in the 1st quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock valued at $13,614,000 after purchasing an additional 2,285 shares in the last quarter. Finally, Spirepoint Private Client LLC grew its holdings in shares of Meta Platforms by 2.7% during the 2nd quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock valued at $3,011,000 after purchasing an additional 109 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms Stock Performance
Shares of META stock opened at $621.71 on Friday. The firm has a market capitalization of $1.56 trillion, a price-to-earnings ratio of 27.46, a PEG ratio of 1.37 and a beta of 1.20. The stock has a fifty day moving average of $726.22 and a 200 day moving average of $701.11. 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 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 22nd. Meta Platforms’s dividend payout ratio is presently 9.28%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. TD Cowen cut their price target on shares of Meta Platforms from $875.00 to $810.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Oppenheimer lowered Meta Platforms from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 30th. Jefferies Financial Group decreased their price target on Meta Platforms from $950.00 to $910.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. JMP Securities increased their price objective on Meta Platforms from $750.00 to $900.00 and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Finally, Morgan Stanley raised their target price on shares of Meta Platforms from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $827.60.
Read Our Latest Report on Meta Platforms
Insiders Place Their Bets
In other Meta Platforms news, COO Javier Olivan sold 517 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $656.00, for a total transaction of $339,152.00. Following the transaction, the chief operating officer owned 7,441 shares in the company, valued at approximately $4,881,296. This represents a 6.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $628.00, for a total value of $325,932.00. Following the completion of the transaction, the insider directly owned 27,237 shares of the company’s stock, valued at $17,104,836. This represents a 1.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 75,798 shares of company stock worth $58,347,026 over the last three months. Company insiders own 13.61% of the company’s stock.
About Meta Platforms
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.
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