BLI Banque de Luxembourg Investments Acquires New Shares in Meta Platforms, Inc. $META

BLI Banque de Luxembourg Investments acquired a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,800 shares of the social networking company’s stock, valued at approximately $18,923,000.

A number of other hedge funds have also bought and sold shares of META. Vanguard Group Inc. lifted its position in Meta Platforms by 0.8% during the second 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 period. Kingstone Capital Partners Texas LLC grew its position in Meta Platforms by 608,429.2% in the 2nd 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 purchasing an additional 59,766,000 shares during the period. Geode Capital Management LLC raised its stake in Meta Platforms by 1.3% during the 2nd 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 buying an additional 682,768 shares during the last quarter. Norges Bank bought a new position in shares of Meta Platforms during the 2nd quarter valued at $23,155,393,000. Finally, Invesco Ltd. lifted its holdings in shares of Meta Platforms by 2.3% during the 1st quarter. Invesco Ltd. now owns 17,669,795 shares of the social networking company’s stock valued at $10,184,163,000 after buying an additional 400,927 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other news, Director Robert M. Kimmitt sold 600 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $609.35, for a total value of $365,610.00. Following the completion of the sale, the director owned 7,347 shares in the company, valued at approximately $4,476,894.45. This trade represents a 7.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Andrew Bosworth sold 11,690 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the transaction, the chief technology officer owned 2,415 shares in the company, valued at $1,432,843.65. The trade was a 82.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,442 shares of company stock worth $26,280,436 in the last ninety days. Corporate insiders own 13.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on META shares. Stifel Nicolaus dropped their target price on Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Monness Crespi & Hardt lowered their price objective on shares of Meta Platforms from $860.00 to $808.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. KeyCorp cut their target price on shares of Meta Platforms from $905.00 to $875.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Meta Platforms in a research report on Monday, December 1st. Finally, Wedbush reiterated an “outperform” rating and set a $920.00 price target 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-nine have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $821.63.

Meta Platforms Price Performance

NASDAQ:META opened at $673.42 on Monday. The business’s 50-day moving average is $673.16 and its 200 day moving average is $707.02. 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 P/E ratio of 29.74, a P/E/G ratio of 1.41 and a beta of 1.28. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating the consensus estimate of $6.74 by $0.51. The business had revenue of $51.24 billion during 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% compared to the same quarter last year. During the same quarter last year, the business earned $6.03 earnings per share. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders 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 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s payout ratio is currently 9.28%.

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.