International Assets Investment Management LLC Acquires 1,606 Shares of Meta Platforms, Inc. (NASDAQ:META)

International Assets Investment Management LLC lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,667 shares of the social networking company’s stock after acquiring an additional 1,606 shares during the quarter. International Assets Investment Management LLC’s holdings in Meta Platforms were worth $8,404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Vantage Financial Partners LLC grew its stake in Meta Platforms by 3.2% in the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after purchasing an additional 41 shares during the period. Concentrum Wealth Management grew its stake in shares of Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after acquiring an additional 3,888,308 shares during the last quarter. Aveo Capital Partners LLC grew its stake in shares of Meta Platforms by 45.7% in the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after acquiring an additional 722 shares during the last quarter. 9258 Wealth Management LLC grew its stake in shares of Meta Platforms by 66.4% in the fourth quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock worth $1,413,000 after acquiring an additional 1,594 shares during the last quarter. Finally, Charles Carroll Financial Partners LLC grew its stake in shares of Meta Platforms by 14.4% in the fourth quarter. Charles Carroll Financial Partners LLC now owns 8,325 shares of the social networking company’s stock worth $2,947,000 after acquiring an additional 1,050 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 0.6 %

Shares of META opened at $521.31 on Friday. The business’s 50 day moving average is $504.85 and its 200 day moving average is $492.97. The company has a market capitalization of $1.32 trillion, a PE ratio of 29.94, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23. 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 released its quarterly earnings results 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 business 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 firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.23 EPS. Research analysts expect that Meta Platforms, Inc. will post 20.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

META has been the topic of a number of recent research reports. Wolfe Research initiated coverage on Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price on the stock. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Thursday, August 1st. Jefferies Financial Group increased their target price on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their target price on Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Guggenheim increased their target price on Meta Platforms from $500.00 to $600.00 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 given a hold rating, thirty-two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $574.41.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 7,975 shares of Meta Platforms stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $516.36, for a total value of $4,117,971.00. Following the completion of the transaction, the chief executive officer now owns 531,884 shares in the company, valued at approximately $274,643,622.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Mark Zuckerberg sold 7,975 shares of Meta Platforms stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $516.36, for a total value of $4,117,971.00. Following the completion of the transaction, the chief executive officer now owns 531,884 shares in the company, valued at approximately $274,643,622.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The disclosure for this sale can be found here. Insiders sold 388,078 shares of company stock worth $200,792,168 in the last quarter. 13.71% of the stock is owned by corporate insiders.

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.