Joel Isaacson & Co. LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,501 shares of the social networking company’s stock after selling 232 shares during the period. Meta Platforms accounts for 1.4% of Joel Isaacson & Co. LLC’s holdings, making the stock its 16th biggest position. Joel Isaacson & Co. LLC’s holdings in Meta Platforms were worth $34,322,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Inlight Wealth Management LLC purchased a new stake in Meta Platforms during the first quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Meta Platforms in the first quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Meta Platforms in the first quarter worth $33,000. Evergreen Private Wealth LLC raised its holdings in shares of Meta Platforms by 237.5% in the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after buying an additional 38 shares during the last quarter. Finally, JCIC Asset Management Inc. raised its holdings in shares of Meta Platforms by 102.6% in the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company’s stock worth $46,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms Stock Performance
META opened at $717.55 on Thursday. The firm has a market capitalization of $1.80 trillion, a PE ratio of 25.98, a PEG ratio of 1.48 and a beta of 1.20. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The firm’s 50-day moving average price is $748.80 and its 200 day moving average price is $681.19. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15.
Meta Platforms Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 22nd. Meta Platforms’s payout ratio is presently 7.60%.
Analysts Set New Price Targets
A number of research firms have issued reports on META. Stifel Nicolaus raised their price target on shares of Meta Platforms from $845.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Bank of America raised their price target on shares of Meta Platforms from $775.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. JMP Securities raised their target price on shares of Meta Platforms from $750.00 to $900.00 and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Robert W. Baird raised their price target on shares of Meta Platforms from $635.00 to $740.00 and gave the company an “outperform” rating in a research report on Wednesday, July 2nd. Finally, Guggenheim restated a “buy” rating and set a $800.00 price target (up previously from $725.00) on shares of Meta Platforms in a research report on Monday, July 28th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $830.68.
Check Out Our Latest Report on Meta Platforms
Insider Activity
In other Meta Platforms news, CFO Susan J. Li sold 18,332 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $764.71, for a total value of $14,018,663.72. Following the transaction, the chief financial officer directly owned 84,141 shares in the company, valued at $64,343,464.11. The trade was a 17.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 11,694 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $775.00, for a total transaction of $9,062,850.00. Following the completion of the transaction, the chief technology officer owned 1,799 shares in the company, valued at $1,394,225. The trade was a 86.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 213,198 shares of company stock valued at $164,232,558. Company insiders own 13.61% of the company’s stock.
Meta Platforms 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.
Read More
- Five stocks we like better than Meta Platforms
- What Investors Need to Know to Beat the Market
- Palantir’s New Healthcare Deal Boosts AI and Data Reach
- Best Stocks Under $5.00
- GM’s Billion-Dollar Bruise: GM’s Strategic Pivot Makes It a Buy
- What Are Dividend Achievers? An Introduction
- Novo Nordisk’s Akero Therapeutics Buy Targets Eli Lilly’s Lead
Want 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).
Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.