Meta Platforms, Inc. $META is 1832 Asset Management L.P.’s 9th Largest Position

1832 Asset Management L.P. lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 30.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,549,602 shares of the social networking company’s stock after acquiring an additional 357,861 shares during the period. Meta Platforms accounts for about 0.9% of 1832 Asset Management L.P.’s holdings, making the stock its 9th biggest position. 1832 Asset Management L.P. owned approximately 0.06% of Meta Platforms worth $1,143,746,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. CW Advisors LLC grew its holdings in shares of Meta Platforms by 27.8% during the second quarter. CW Advisors LLC now owns 176,762 shares of the social networking company’s stock worth $130,467,000 after buying an additional 38,432 shares during the last quarter. Acorns Advisers LLC boosted its stake in shares of Meta Platforms by 15.9% in the second quarter. Acorns Advisers LLC now owns 3,046 shares of the social networking company’s stock valued at $2,248,000 after buying an additional 419 shares in the last quarter. JT Stratford LLC grew its holdings in Meta Platforms by 9.3% during the second quarter. JT Stratford LLC now owns 18,051 shares of the social networking company’s stock worth $13,323,000 after acquiring an additional 1,542 shares during the period. PharVision Advisers LLC raised its position in Meta Platforms by 108.9% in the second quarter. PharVision Advisers LLC now owns 844 shares of the social networking company’s stock worth $623,000 after acquiring an additional 440 shares in the last quarter. Finally, Peloton Wealth Strategists acquired a new stake in Meta Platforms in the second quarter valued at $210,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $673.42 on Friday. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The company has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 29.74, a price-to-earnings-growth ratio of 1.41 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. The firm’s fifty day moving average price is $673.16 and its 200 day moving average price is $706.52.

Meta Platforms (NASDAQ:META) last issued 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. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The firm had revenue of $51.24 billion during the quarter, compared to the consensus estimate of $49.34 billion. During the same quarter in the prior year, the business posted $6.03 earnings per share. Meta Platforms’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders 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 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio is presently 9.28%.

Insider Activity at Meta Platforms

In other news, CFO Susan J. Li sold 6,875 shares of Meta Platforms stock in a transaction that occurred 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 completion of the transaction, the chief financial officer owned 88,370 shares in the company, valued at approximately $53,857,980.20. This trade represents a 7.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 2,610 shares of the company’s stock in a transaction that occurred on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total value of $1,590,690.60. Following the sale, the chief operating officer directly owned 9,784 shares in the company, valued at approximately $5,962,956.64. This represents a 21.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,959 shares of company stock worth $26,671,107 over the last quarter. 13.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on META. UBS Group boosted their price target on Meta Platforms from $900.00 to $915.00 and gave the stock a “buy” rating in a research note on Thursday, October 30th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $825.00 target price (down from $900.00) on shares of Meta Platforms in a research note on Thursday, October 30th. Wedbush reissued an “outperform” rating and issued a $920.00 price target on shares of Meta Platforms in a research note on Thursday, October 30th. JPMorgan Chase & Co. dropped their price objective on shares of Meta Platforms from $875.00 to $800.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Finally, Piper Sandler lowered their price objective on shares of Meta Platforms from $880.00 to $840.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $821.63.

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.