Novare Capital Management LLC Has $16.07 Million Stock Holdings in Meta Platforms, Inc. $META

Novare Capital Management LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,777 shares of the social networking company’s stock after buying an additional 2,291 shares during the quarter. Meta Platforms makes up approximately 1.3% of Novare Capital Management LLC’s holdings, making the stock its 19th largest holding. Novare Capital Management LLC’s holdings in Meta Platforms were worth $16,074,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC lifted its stake in shares of Meta Platforms by 608,429.2% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock valued at $44,119,937,000 after purchasing an additional 59,766,000 shares during the period. Invesco Ltd. lifted its stake in shares of Meta Platforms by 2.3% in the 1st quarter. Invesco Ltd. now owns 17,669,795 shares of the social networking company’s stock valued at $10,184,163,000 after purchasing an additional 400,927 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Meta Platforms by 8.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,575,962 shares of the social networking company’s stock valued at $8,977,361,000 after purchasing an additional 1,255,546 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Meta Platforms by 4.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,543,468 shares of the social networking company’s stock valued at $7,229,553,000 after purchasing an additional 536,160 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Meta Platforms by 2.5% in the 1st quarter. Wellington Management Group LLP now owns 10,041,171 shares of the social networking company’s stock valued at $5,787,329,000 after purchasing an additional 247,850 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on META. Monness Crespi & Hardt increased their price target on Meta Platforms from $780.00 to $860.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. HSBC raised Meta Platforms from a “hold” rating to a “buy” rating and increased their price target for the company from $610.00 to $900.00 in a research note on Thursday, July 31st. Bank of America upped their price objective 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. DA Davidson upped their price objective on shares of Meta Platforms from $650.00 to $825.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Finally, Morgan Stanley upped their price objective on shares of Meta Platforms from $750.00 to $850.00 and gave the company an “overweight” rating in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $829.66.

Meta Platforms Price Performance

META stock opened at $751.44 on Wednesday. The stock has a 50-day moving average price of $741.78 and a two-hundred day moving average price of $694.67. The stock has a market cap of $1.89 trillion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.59 and a beta of 1.20. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25.

Meta Platforms (NASDAQ:META) last released 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. The firm had revenue of $47.52 billion during the quarter, compared to analysts’ expectations of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%.The company’s revenue was up 21.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.16 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders 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 yield of 0.3%. The ex-dividend date was Monday, September 22nd. Meta Platforms’s dividend payout ratio is 7.60%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 15,847 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $753.43, for a total transaction of $11,939,605.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Susan J. Li sold 18,332 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $764.71, for a total value of $14,018,663.72. Following 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 213,146 shares of company stock worth $164,208,279 in the last 90 days. Company insiders own 13.61% of the company’s stock.

Meta Platforms 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.