FourThought Financial Partners LLC Increases Position in Meta Platforms, Inc. $META

FourThought Financial Partners LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 22.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,839 shares of the social networking company’s stock after acquiring an additional 2,761 shares during the period. FourThought Financial Partners LLC’s holdings in Meta Platforms were worth $10,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in META. Infusive Asset Management Inc. raised 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 purchasing an additional 2,285 shares in the last quarter. Spirepoint Private Client LLC increased its holdings in 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 buying an additional 109 shares during the last quarter. Sequoia Financial Advisors LLC increased its holdings in 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 buying an additional 20,912 shares during the last quarter. Stephens Inc. AR raised its stake in Meta Platforms by 5.6% in the second quarter. Stephens Inc. AR now owns 84,687 shares of the social networking company’s stock valued at $62,507,000 after buying an additional 4,473 shares in the last quarter. Finally, Motiv8 Investments LLC lifted its holdings in Meta Platforms by 11.5% during the 2nd quarter. Motiv8 Investments LLC now owns 2,080 shares of the social networking company’s stock worth $1,535,000 after buying an additional 214 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Bank of America dropped their price objective on Meta Platforms from $900.00 to $810.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. JPMorgan Chase & Co. dropped their price target on shares of Meta Platforms from $875.00 to $800.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Meta Platforms in a report on Tuesday, October 14th. UBS Group boosted their price objective on shares of Meta Platforms from $900.00 to $915.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Oppenheimer downgraded shares of Meta Platforms from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $819.43.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $661.53 on Friday. The firm’s fifty day simple moving average is $674.56 and its 200-day simple moving average is $705.81. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 29.22, a PEG ratio of 1.34 and a beta of 1.28. 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 (NASDAQ:META) last issued its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.74 by $0.51. The company had revenue of $51.24 billion for the quarter, compared to the consensus estimate of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. Meta Platforms’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period last year, the firm posted $6.03 EPS. As a group, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 15th. Meta Platforms’s payout ratio is 9.28%.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 11,690 shares of the business’s stock in a transaction that occurred 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 owned 2,415 shares of the company’s stock, valued at approximately $1,432,843.65. The trade was a 82.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Aaron Anderson sold 726 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $591.60, for a total value of $429,501.60. Following the sale, the chief accounting officer directly owned 6,035 shares of the company’s stock, valued at approximately $3,570,306. This represents a 10.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,959 shares of company stock worth $26,671,107 over the last three months. 13.61% of the stock is currently owned by company insiders.

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.