Hilltop Partners LLC Has $1.60 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Hilltop Partners LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 24.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,165 shares of the social networking company’s stock after acquiring an additional 627 shares during the period. Meta Platforms makes up about 0.6% of Hilltop Partners LLC’s holdings, making the stock its 24th largest position. Hilltop Partners LLC’s holdings in Meta Platforms were worth $1,596,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of META. S.A. Mason LLC grew its stake in shares of Meta Platforms by 1.5% during the 1st 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 period. Horizon Bancorp Inc. IN increased its stake in shares of Meta Platforms by 2.0% in the first 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 in the last quarter. Northern Capital Management Inc. raised its position in shares of Meta Platforms by 3.4% in the first 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. grew its stake in 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 buying an additional 21 shares in the last quarter. Finally, LongView Wealth Management raised its holdings in Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after acquiring an additional 22 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on META. Roth Mkm lifted their price target on Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. 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. Barclays boosted their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Rosenblatt Securities raised their price target on shares of Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Robert W. Baird upped their price target on shares of Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $574.41.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the sale, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $521.35, for a total transaction of $215,317.55. Following the completion of the transaction, the chief operating officer now directly owns 14,011 shares of the company’s stock, valued at $7,304,634.85. The disclosure for this sale can be found here. Insiders sold a total of 390,072 shares of company stock worth $201,913,948 over the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 0.2 %

NASDAQ:META opened at $512.74 on Thursday. The firm has a market capitalization of $1.30 trillion, a P/E ratio of 29.45, a P/E/G ratio of 1.29 and a beta of 1.21. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average of $505.31 and a 200 day moving average of $493.77. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $544.23.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during 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%. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.23 earnings per share. On average, research analysts predict that Meta Platforms, Inc. will post 21.3 earnings per share for the current year.

About Meta Platforms

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.