Financial Futures Ltd Liability Co. Purchases 687 Shares of Meta Platforms, Inc. $META

Financial Futures Ltd Liability Co. boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 159.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,118 shares of the social networking company’s stock after acquiring an additional 687 shares during the quarter. Financial Futures Ltd Liability Co.’s holdings in Meta Platforms were worth $825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pachira Investments Inc. increased its holdings in shares of Meta Platforms by 3.0% in the second quarter. Pachira Investments Inc. now owns 488 shares of the social networking company’s stock valued at $360,000 after purchasing an additional 14 shares during the last quarter. Hemington Wealth Management increased its holdings in shares of Meta Platforms by 0.6% in the second quarter. Hemington Wealth Management now owns 2,223 shares of the social networking company’s stock valued at $1,641,000 after purchasing an additional 14 shares during the last quarter. Shelton Wealth Management LLC increased its holdings in shares of Meta Platforms by 0.9% in the second quarter. Shelton Wealth Management LLC now owns 1,764 shares of the social networking company’s stock valued at $1,302,000 after purchasing an additional 15 shares during the last quarter. Myecfo LLC increased its holdings in shares of Meta Platforms by 2.0% in the second quarter. Myecfo LLC now owns 776 shares of the social networking company’s stock valued at $573,000 after purchasing an additional 15 shares during the last quarter. Finally, Kooman & Associates increased its holdings in shares of Meta Platforms by 2.8% in the second quarter. Kooman & Associates now owns 544 shares of the social networking company’s stock valued at $402,000 after purchasing an additional 15 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on META shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Meta Platforms in a report on Wednesday, October 8th. KeyCorp upped 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. Raymond James Financial upped their price target on shares of Meta Platforms from $750.00 to $900.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 31st. BMO Capital Markets upped their price target on shares of Meta Platforms from $610.00 to $710.00 and gave the company a “market perform” rating in a research note on Thursday, July 31st. Finally, Mizuho set a $925.00 price target on shares of Meta Platforms and gave the company an “outperform” rating in a research note on Monday, September 29th. Five analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $829.66.

Meta Platforms Trading Up 0.1%

Shares of Meta Platforms stock opened at $751.44 on Wednesday. The company has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 27.21, a PEG ratio of 1.59 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 12-month low of $479.80 and a 12-month high of $796.25. The firm’s 50-day moving average price is $741.78 and its two-hundred day moving average price is $694.67.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.75 by $1.39. The firm had revenue of $47.52 billion for the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the prior year, the company posted $5.16 earnings per share. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, September 22nd. Meta Platforms’s dividend payout ratio is presently 7.60%.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the stock in a transaction dated Tuesday, October 21st. The shares were sold at an average price of $736.37, for a total transaction of $382,176.03. Following the sale, the insider directly owned 28,275 shares in the company, valued at $20,820,861.75. This represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $721.30, for a total transaction of $372,912.10. Following the completion of the transaction, the chief operating officer directly owned 8,475 shares of the company’s stock, valued at $6,113,017.50. This trade represents a 5.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 213,146 shares of company stock worth $164,208,279 over the last ninety days. Corporate insiders own 13.61% of the company’s stock.

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.