Burk Holdings LLC Takes $595,000 Position in Meta Platforms, Inc. $META

Burk Holdings LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 806 shares of the social networking company’s stock, valued at approximately $595,000.

Other large investors have also bought and sold shares of the company. Infusive Asset Management Inc. increased its stake in 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 buying an additional 2,285 shares during the last quarter. Spirepoint Private Client LLC grew its holdings in shares of Meta Platforms by 2.7% in the 2nd 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 in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Meta Platforms by 11.0% in the second quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock valued at $155,387,000 after acquiring an additional 20,912 shares during the last quarter. Stephens Inc. AR raised its holdings in Meta Platforms by 5.6% during the second quarter. Stephens Inc. AR now owns 84,687 shares of the social networking company’s stock worth $62,507,000 after acquiring an additional 4,473 shares in the last quarter. Finally, Motiv8 Investments LLC boosted its position in Meta Platforms by 11.5% during the second quarter. Motiv8 Investments LLC now owns 2,080 shares of the social networking company’s stock valued at $1,535,000 after purchasing an additional 214 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 11,690 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total value of $6,935,793.90. Following the transaction, the chief technology officer directly owned 2,415 shares of the company’s stock, valued at $1,432,843.65. This represents a 82.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 6,875 shares of Meta Platforms stock in a transaction on Saturday, November 15th. The stock was sold at an average price of $609.46, for a total value of $4,190,037.50. Following the sale, the chief financial officer directly owned 88,370 shares of the company’s stock, valued at $53,857,980.20. This represents a 7.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 41,440 shares of company stock valued at $26,337,795 in the last 90 days. Corporate insiders own 13.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on META shares. Bank of America lowered their price target on Meta Platforms from $900.00 to $810.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Monness Crespi & Hardt lowered their target price on shares of Meta Platforms from $860.00 to $808.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Citigroup dropped their price target on shares of Meta Platforms from $915.00 to $850.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Raymond James Financial reissued a “strong-buy” rating and issued a $825.00 price objective (down previously from $900.00) on shares of Meta Platforms in a research report on Thursday, October 30th. Finally, DA Davidson set a $825.00 target price on shares of Meta Platforms in a report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $823.93.

Meta Platforms Stock Performance

NASDAQ META opened at $639.60 on Thursday. The firm has a 50-day moving average of $676.31 and a 200-day moving average of $706.12. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a market cap of $1.61 trillion, a PE ratio of 28.25, a P/E/G ratio of 1.36 and a beta of 1.28. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. The business had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. Meta Platforms’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.03 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th will be paid a dividend of $0.525 per share. The ex-dividend date is Monday, December 15th. 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 9.28%.

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.