Montrusco Bolton Investments Inc. increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 35.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 687,611 shares of the social networking company’s stock after purchasing an additional 178,731 shares during the period. Meta Platforms accounts for approximately 5.5% of Montrusco Bolton Investments Inc.’s investment portfolio, making the stock its 4th biggest position. Montrusco Bolton Investments Inc.’s holdings in Meta Platforms were worth $492,217,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of META. Brighton Jones LLC raised its position in shares of Meta Platforms by 1.7% during 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 during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Meta Platforms by 10.2% during 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 during the last quarter. GAMMA Investing LLC raised its position in shares of Meta Platforms by 16.7% during 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 during the last quarter. 1776 Wealth LLC raised its position in shares of Meta Platforms by 137.2% during the 1st quarter. 1776 Wealth LLC now owns 1,167 shares of the social networking company’s stock worth $673,000 after purchasing an additional 675 shares during the last quarter. Finally, EWA LLC raised its position in shares of Meta Platforms by 50.2% during the 1st quarter. EWA LLC now owns 7,534 shares of the social networking company’s stock worth $4,342,000 after purchasing an additional 2,518 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.
Meta Platforms Stock Performance
Meta Platforms stock opened at $733.41 on Thursday. The firm has a 50 day simple moving average of $744.01 and a 200-day simple moving average of $687.02. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $796.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market cap of $1.84 trillion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 1.53 and a beta of 1.20.
Meta Platforms Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is presently 7.60%.
Insider Activity at Meta Platforms
In related news, CFO Susan J. Li sold 18,332 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $64,343,464.11. This trade represents a 17.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 11,694 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $775.00, for a total transaction of $9,062,850.00. Following the transaction, the chief technology officer directly owned 1,799 shares of the company’s stock, valued at $1,394,225. The trade was a 86.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,663 shares of company stock worth $164,569,365. Company insiders own 13.61% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Piper Sandler increased their price objective on shares of Meta Platforms from $808.00 to $880.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Canaccord Genuity Group increased their price objective on shares of Meta Platforms from $825.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, July 16th. Wells Fargo & Company increased their price objective on shares of Meta Platforms from $811.00 to $837.00 and gave the company an “overweight” rating in a report on Tuesday, October 7th. KeyCorp increased their price objective on shares of Meta Platforms from $800.00 to $905.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Finally, Barclays increased their price objective on shares of Meta Platforms from $640.00 to $810.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Five analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $829.66.
Read 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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