Cloud Capital Management LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 28.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 523 shares of the social networking company’s stock after buying an additional 115 shares during the quarter. Cloud Capital Management LLC’s holdings in Meta Platforms were worth $406,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. purchased a new position in Meta Platforms during the 1st quarter worth approximately $33,000. Evergreen Private Wealth LLC boosted its position in shares of Meta Platforms by 237.5% in the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after buying an additional 38 shares during the period. Briaud Financial Planning Inc purchased a new position in shares of Meta Platforms during the second quarter valued at $42,000. WFA Asset Management Corp raised its position in Meta Platforms by 42.6% during the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after buying an additional 20 shares during the period. Finally, Maseco LLP purchased a new stake in Meta Platforms in the 2nd quarter worth about $54,000. 79.91% of the stock is owned by hedge funds and other institutional investors.
Meta Platforms Price Performance
Shares of NASDAQ:META opened at $609.46 on Monday. The stock has a market capitalization of $1.54 trillion, a P/E ratio of 26.92, a P/E/G ratio of 1.35 and a beta of 1.20. The business has a 50-day moving average of $713.72 and a two-hundred day moving average of $706.28. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98.
Meta Platforms Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were paid a $0.525 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.28%.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on META. Zacks Research raised Meta Platforms from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Cantor Fitzgerald decreased their price target on shares of Meta Platforms from $920.00 to $830.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Pivotal Research boosted their price objective on shares of Meta Platforms from $830.00 to $930.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Royal Bank Of Canada dropped their price objective on shares of Meta Platforms from $840.00 to $810.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Finally, Wedbush reissued an “outperform” rating and set a $920.00 target price on shares of Meta Platforms in a research note on Thursday, October 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-seven have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $827.60.
Read Our Latest Report on META
Insider Buying and Selling
In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $767.16, for a total transaction of $398,156.04. Following the completion of the transaction, the insider owned 30,870 shares of the company’s stock, valued at $23,682,229.20. The trade was a 1.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 13,359 shares of company stock valued at $9,689,566. Company insiders own 13.61% of the company’s stock.
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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