Vinland Capital Management Gestora de Recursos LTDA. Decreases Holdings in Meta Platforms, Inc. (NASDAQ:META)

Vinland Capital Management Gestora de Recursos LTDA. reduced its position in Meta Platforms, Inc. (NASDAQ:META) by 89.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,560 shares of the social networking company’s stock after selling 38,352 shares during the period. Meta Platforms accounts for approximately 1.5% of Vinland Capital Management Gestora de Recursos LTDA.’s investment portfolio, making the stock its 7th largest holding. Vinland Capital Management Gestora de Recursos LTDA.’s holdings in Meta Platforms were worth $2,299,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Private Management Group Inc. lifted its holdings in Meta Platforms by 4.7% in the fourth 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 period. Bfsg LLC lifted its stake in shares of 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 purchasing an additional 1,198 shares during the period. Hartline Investment Corp boosted its position in shares of Meta Platforms by 15.4% in the 4th quarter. Hartline Investment Corp now owns 3,580 shares of the social networking company’s stock worth $1,267,000 after purchasing an additional 477 shares during the last quarter. Wynn Capital LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth $2,876,000. Finally, Carret Asset Management LLC increased its holdings in Meta Platforms by 4.0% in the fourth quarter. Carret Asset Management LLC now owns 22,734 shares of the social networking company’s stock valued at $8,047,000 after purchasing an additional 867 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BMO Capital Markets restated a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a report on Wednesday, June 12th. Roth Mkm upped their target price on shares of Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Oppenheimer increased their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Barclays boosted their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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. The stock’s fifty day simple moving average is $502.48 and its 200 day simple moving average is $490.42. Meta Platforms, Inc. has a 1-year low of $276.03 and a 1-year high of $544.23. The stock has a market cap of $1.34 trillion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

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

Meta Platforms Dividend Announcement

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

Insider Transactions at Meta Platforms

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

Meta Platforms Company 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.