Connective Capital Management LLC Boosts Stock Holdings in Meta Platforms, Inc. $META

Connective Capital Management LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 36.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,848 shares of the social networking company’s stock after acquiring an additional 1,570 shares during the period. Meta Platforms accounts for approximately 4.0% of Connective Capital Management LLC’s holdings, making the stock its 7th biggest holding. Connective Capital Management LLC’s holdings in Meta Platforms were worth $4,316,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in META. Vanguard Group Inc. increased its position in shares of Meta Platforms by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock valued at $142,149,566,000 after purchasing an additional 1,532,568 shares during the last quarter. Kingstone Capital Partners Texas LLC boosted its stake in Meta Platforms by 608,429.2% during the second quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock worth $44,119,937,000 after buying an additional 59,766,000 shares during the period. Geode Capital Management LLC increased its position in Meta Platforms by 1.3% during the second quarter. Geode Capital Management LLC now owns 51,575,209 shares of the social networking company’s stock valued at $37,902,948,000 after acquiring an additional 682,768 shares during the last quarter. Invesco Ltd. increased its position in Meta Platforms by 2.3% during the first quarter. Invesco Ltd. now owns 17,669,795 shares of the social networking company’s stock valued at $10,184,163,000 after acquiring an additional 400,927 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Meta Platforms by 8.8% in the first 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 acquiring an additional 1,255,546 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Trading Up 1.8%

Shares of NASDAQ META opened at $673.42 on Friday. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The firm has a market cap of $1.70 trillion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 1.39 and a beta of 1.28. The business has a fifty day simple moving average of $673.16 and a two-hundred day simple moving average of $706.04. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.74 by $0.51. The business had revenue of $51.24 billion for the quarter, compared to the consensus estimate of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The business’s revenue was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.03 EPS. Analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is 9.28%.

Wall Street Analyst Weigh In

META has been the topic of several analyst reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Meta Platforms in a report on Tuesday, October 14th. Stifel Nicolaus dropped their target price on Meta Platforms from $900.00 to $875.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Piper Sandler reduced their price target on Meta Platforms from $880.00 to $840.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Arete Research set a $718.00 price objective on Meta Platforms in a report on Thursday. Finally, TD Cowen cut their price objective on Meta Platforms from $875.00 to $810.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $819.43.

Insiders Place Their Bets

In other news, CAO Aaron Anderson sold 726 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total value of $429,501.60. Following the completion of the sale, the chief accounting officer owned 6,035 shares of the company’s stock, valued at approximately $3,570,306. This represents a 10.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $642.22, for a total transaction of $333,312.18. Following the transaction, the insider directly owned 30,734 shares in the company, valued at approximately $19,737,989.48. The trade was a 1.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 41,959 shares of company stock worth $26,671,107. 13.61% of the stock is owned by corporate insiders.

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.