Verde Servicos Internacionais S.A. grew its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 152.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,026 shares of the social networking company’s stock after purchasing an additional 11,486 shares during the quarter. Meta Platforms makes up approximately 6.2% of Verde Servicos Internacionais S.A.’s investment portfolio, making the stock its 4th largest holding. Verde Servicos Internacionais S.A.’s holdings in Meta Platforms were worth $14,043,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of META. Csenge Advisory Group grew its stake in shares of Meta Platforms by 12.0% in the first quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company’s stock valued at $5,498,000 after acquiring an additional 1,019 shares in the last quarter. ARQ Wealth Advisors LLC grew its stake in shares of Meta Platforms by 4.5% in the first quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company’s stock valued at $452,000 after acquiring an additional 34 shares in the last quarter. JMG Financial Group Ltd. acquired a new position in shares of Meta Platforms in the first quarter valued at about $284,000. Infusive Asset Management Inc. grew its stake in shares of Meta Platforms by 10.7% in the first quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock valued at $13,614,000 after acquiring an additional 2,285 shares in the last quarter. Finally, Spirepoint Private Client LLC grew its stake in shares of Meta Platforms by 2.7% in the second quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock valued at $3,011,000 after acquiring an additional 109 shares in the last quarter. 79.91% of the stock is owned by institutional investors.
Meta Platforms Trading Up 0.7%
META opened at $716.91 on Friday. The company’s 50 day moving average is $746.75 and its 200-day moving average is $683.72. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.80 trillion, a P/E ratio of 25.96, a PEG ratio of 1.50 and a beta of 1.20.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, September 22nd. Meta Platforms’s dividend payout ratio (DPR) is presently 7.60%.
Insider Buying and Selling
In related news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $713.34, for a total transaction of $368,796.78. Following the sale, the chief operating officer directly owned 8,992 shares in the company, valued at $6,414,353.28. This trade represents a 5.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $707.85, for a total transaction of $367,374.15. Following the sale, the insider owned 28,794 shares in the company, valued at approximately $20,381,832.90. This represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 214,182 shares of company stock worth $164,933,323 in the last ninety days. Company insiders own 13.61% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms recently commented on META. Barclays upped their price target on shares of Meta Platforms from $640.00 to $810.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Benchmark upped their price target on shares of Meta Platforms from $800.00 to $890.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Needham & Company LLC upgraded shares of Meta Platforms from an “underperform” rating to a “hold” rating in a research note on Thursday, July 3rd. Canaccord Genuity Group upped their price target on shares of Meta Platforms from $825.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Finally, HSBC upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and increased their price objective for the stock from $610.00 to $900.00 in a research note on Thursday, July 31st. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $830.68.
View Our Latest Stock Analysis on META
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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