Aurora Investment Managers LLC. bought a new position in Meta Platforms, Inc. (NASDAQ:META – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 16,891 shares of the social networking company’s stock, valued at approximately $12,467,000. Meta Platforms makes up approximately 7.5% of Aurora Investment Managers LLC.’s investment portfolio, making the stock its 3rd biggest position.
A number of other institutional investors have also bought and sold shares of META. Brighton Jones LLC lifted its stake in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after purchasing an additional 570 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after purchasing an additional 875 shares in the last quarter. GAMMA Investing LLC lifted its stake in Meta Platforms by 16.7% in the 1st quarter. GAMMA Investing LLC now owns 40,691 shares of the social networking company’s stock worth $23,453,000 after purchasing an additional 5,829 shares in the last quarter. Smith Shellnut Wilson LLC ADV lifted its stake in Meta Platforms by 1.2% in the 1st quarter. Smith Shellnut Wilson LLC ADV now owns 2,136 shares of the social networking company’s stock worth $1,231,000 after purchasing an additional 25 shares in the last quarter. Finally, RS Crum Inc. raised its position in shares of Meta Platforms by 3.5% during the 1st quarter. RS Crum Inc. now owns 1,109 shares of the social networking company’s stock valued at $639,000 after buying an additional 37 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.
Meta Platforms Stock Performance
NASDAQ:META opened at $712.07 on Friday. The company has a fifty day simple moving average of $747.80 and a two-hundred day simple moving average of $682.13. The company has a market cap of $1.79 trillion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 1.50 and a beta of 1.20. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were paid a $0.525 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s payout ratio is 7.60%.
Wall Street Analyst Weigh In
Several research firms have recently commented on META. Loop Capital reaffirmed a “buy” rating and set a $980.00 price target (up previously from $888.00) on shares of Meta Platforms in a research report on Tuesday, August 5th. Pivotal Research lifted their price target on shares of Meta Platforms from $830.00 to $930.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Bank of America lifted their price target on shares of Meta Platforms from $775.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $920.00 price target on shares of Meta Platforms in a research report on Thursday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Meta Platforms in a research report on Tuesday. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $830.68.
Check Out Our Latest Stock Report on META
Insider Buying and Selling at Meta Platforms
In related news, CFO Susan J. Li sold 18,332 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $764.71, for a total transaction of $14,018,663.72. Following the completion of the transaction, the chief financial officer owned 84,141 shares in the company, valued at approximately $64,343,464.11. The trade was a 17.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 15,847 shares of the business’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $769.38, for a total transaction of $12,192,364.86. The disclosure for this sale can be found here. In the last three months, insiders have sold 213,717 shares of company stock worth $164,599,932. 13.61% of the stock is currently owned by insiders.
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.
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