Bridge Advisory LLC Buys 24 Shares of Meta Platforms, Inc. (NASDAQ:META)

Bridge Advisory LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 576 shares of the social networking company’s stock after purchasing an additional 24 shares during the period. Bridge Advisory LLC’s holdings in Meta Platforms were worth $291,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Private Management Group Inc. raised its holdings in Meta Platforms by 4.7% in the 4th quarter. Private Management Group Inc. now owns 1,038 shares of the social networking company’s stock valued at $367,000 after buying an additional 47 shares during the last quarter. Bfsg LLC increased its position in Meta Platforms by 58.0% in the 4th quarter. Bfsg LLC now owns 3,265 shares of the social networking company’s stock valued at $1,156,000 after acquiring an additional 1,198 shares during the period. Hartline Investment Corp increased its position in Meta Platforms by 15.4% in the 4th quarter. Hartline Investment Corp now owns 3,580 shares of the social networking company’s stock valued at $1,267,000 after acquiring an additional 477 shares during the period. Wynn Capital LLC acquired a new position in Meta Platforms in the 4th quarter valued at approximately $2,876,000. Finally, Carret Asset Management LLC increased its position in Meta Platforms by 4.0% in the 4th quarter. Carret Asset Management LLC now owns 22,734 shares of the social networking company’s stock valued at $8,047,000 after acquiring an additional 867 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the sale, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the transaction, the director now owns 630,293 shares in the company, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. Insiders have sold 418,680 shares of company stock worth $211,992,147 in the last 90 days. Insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft upped their price target on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Thursday, August 1st. Citigroup upped their price target on shares of Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wedbush reiterated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a report on Wednesday, July 24th. Finally, Susquehanna boosted their price objective on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

Meta Platforms Stock Down 0.7 %

META opened at $528.00 on Friday. Meta Platforms, Inc. has a fifty-two week low of $276.03 and a fifty-two week high of $544.23. The firm has a market capitalization of $1.34 trillion, a P/E ratio of 30.33, a PEG ratio of 1.27 and a beta of 1.21. The company’s 50-day moving average is $502.48 and its 200 day moving average is $490.42. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same quarter last year, the business posted $3.23 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. Research analysts expect that Meta Platforms, Inc. will post 20.5 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. Meta Platforms’s payout ratio is presently 11.49%.

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.