Meta Platforms, Inc. (NASDAQ:META) is Allspring Global Investments Holdings LLC’s 5th Largest Position

Allspring Global Investments Holdings LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 13.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,520,149 shares of the social networking company’s stock after purchasing an additional 174,893 shares during the period. Meta Platforms makes up 1.2% of Allspring Global Investments Holdings LLC’s portfolio, making the stock its 5th biggest position. Allspring Global Investments Holdings LLC owned 0.06% of Meta Platforms worth $766,489,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in META. S.A. Mason LLC raised its position in shares of Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after acquiring an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN raised its holdings in Meta Platforms by 2.0% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after purchasing an additional 21 shares during the last quarter. Northern Capital Management Inc. lifted its position in Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after purchasing an additional 21 shares during the period. Buckingham Capital Management Inc. boosted its stake in shares of Meta Platforms by 5.1% in the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after purchasing an additional 21 shares during the last quarter. Finally, LongView Wealth Management grew its position in shares of Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after buying an additional 22 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $471.67, for a total transaction of $194,328.04. Following the transaction, the chief operating officer now owns 14,964 shares in the company, valued at approximately $7,058,069.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the sale, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at approximately $159,759,417.44. The disclosure for this sale can be found here. Insiders have sold 434,477 shares of company stock valued at $220,437,187 over the last ninety days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Down 1.3 %

Shares of NASDAQ:META opened at $521.12 on Tuesday. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $544.23. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. The company has a market capitalization of $1.32 trillion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The company has a 50-day simple moving average of $503.25 and a 200 day simple moving average of $491.66.

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

Meta Platforms Announces Dividend

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

Analyst Ratings Changes

Several equities analysts recently weighed in on META shares. Stifel Nicolaus increased their price objective on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Raymond James raised their price target on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 1st. Barclays upped their price objective on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Loop Capital raised their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $574.41.

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.