International Assets Investment Management LLC Has $12.73 Million Stake in Meta Platforms, Inc. $META

International Assets Investment Management LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,252 shares of the social networking company’s stock after purchasing an additional 134 shares during the period. Meta Platforms makes up approximately 0.6% of International Assets Investment Management LLC’s investment portfolio, making the stock its 21st largest holding. International Assets Investment Management LLC’s holdings in Meta Platforms were worth $12,734,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of META. Csenge Advisory Group grew its position in 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 purchasing an additional 1,019 shares in the last quarter. ARQ Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 4.5% during the 1st quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company’s stock worth $452,000 after buying an additional 34 shares during the last quarter. JMG Financial Group Ltd. acquired a new position in shares of Meta Platforms during the 1st quarter worth about $284,000. Infusive Asset Management Inc. grew its holdings in shares of Meta Platforms by 10.7% in the 1st 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 increased its position 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 during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on META shares. Sanford C. Bernstein increased their price target on Meta Platforms from $775.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Guggenheim reiterated a “buy” rating and set a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms in a research note on Monday, July 28th. Hsbc Global Res raised shares of Meta Platforms from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 31st. Zacks Research upgraded shares of Meta Platforms from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Finally, Barclays increased 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. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $829.66.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 15,847 shares of the business’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $753.43, for a total value of $11,939,605.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 60,000 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total value of $46,557,000.00. Following the transaction, the insider owned 237,205 shares in the company, valued at $184,059,219.75. The trade was a 20.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 213,146 shares of company stock worth $164,208,279 over the last three months. Company insiders own 13.61% of the company’s stock.

Meta Platforms Price Performance

NASDAQ:META opened at $751.44 on Wednesday. The company has a market cap of $1.89 trillion, a P/E ratio of 27.21, a P/E/G ratio of 1.59 and a beta of 1.20. The firm’s fifty day moving average price is $741.78 and its two-hundred day moving average price is $694.67. Meta Platforms, Inc. has a one year low of $479.80 and a one 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.

Meta Platforms (NASDAQ:META) last posted its earnings results 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. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The company had revenue of $47.52 billion during the quarter, compared to analysts’ expectations of $44.55 billion. During the same quarter last year, the company posted $5.16 EPS. Meta Platforms’s quarterly revenue was up 21.6% compared to the same quarter last year. Equities analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.525 per share. 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 payout ratio is currently 7.60%.

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.