Cascade Investment Group Inc. bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 392 shares of the social networking company’s stock, valued at approximately $289,000.
Several other hedge funds have also modified their holdings of META. Kingstone Capital Partners Texas LLC raised its holdings in shares of Meta Platforms by 608,429.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock valued at $44,119,937,000 after buying an additional 59,766,000 shares during the period. Nuveen LLC acquired a new stake in Meta Platforms during the 1st quarter valued at approximately $2,990,544,000. Amundi grew its stake in Meta Platforms by 23.5% during the 1st quarter. Amundi now owns 7,733,061 shares of the social networking company’s stock valued at $4,111,050,000 after purchasing an additional 1,470,070 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Meta Platforms by 8.8% during the 1st 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 purchasing an additional 1,255,546 shares in the last quarter. Finally, Strs Ohio acquired a new stake in Meta Platforms during the 1st quarter valued at approximately $571,086,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Meta Platforms Price Performance
Shares of META opened at $716.91 on Monday. The firm has a market cap of $1.80 trillion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.50 and a beta of 1.20. The stock has a 50 day moving average of $746.75 and a 200-day moving average of $684.78. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25.
Meta Platforms Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were issued a $0.525 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is 7.60%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on META shares. Citigroup restated an “outperform” rating on shares of Meta Platforms in a research note on Thursday, July 31st. JMP Securities raised their price objective on Meta Platforms from $750.00 to $900.00 and gave the company a “market outperform” rating in a research note on Thursday, July 31st. Benchmark raised their price objective on Meta Platforms from $800.00 to $890.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Royal Bank Of Canada raised their price objective on Meta Platforms from $740.00 to $840.00 and gave the company an “outperform” rating in a research note on Thursday, July 31st. Finally, DA Davidson raised their price objective on Meta Platforms from $650.00 to $825.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $830.68.
Get Our Latest Stock Analysis on META
Insider Buying and Selling
In related news, Director Robert M. Kimmitt sold 465 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $716.97, for a total value of $333,391.05. Following the sale, the director owned 7,947 shares of the company’s stock, valued at approximately $5,697,760.59. This trade represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $707.85, for a total value of $367,374.15. Following the completion of the sale, the insider directly owned 28,794 shares in the company, valued at approximately $20,381,832.90. This trade represents a 1.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 213,665 shares of company stock valued at $164,568,109. Insiders own 13.61% of the company’s stock.
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.
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