Haven Private LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 157.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,790 shares of the social networking company’s stock after purchasing an additional 1,096 shares during the quarter. Haven Private LLC’s holdings in Meta Platforms were worth $1,321,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after purchasing an additional 570 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Meta Platforms by 10.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after buying an additional 875 shares in the last quarter. 1776 Wealth LLC raised its stake in shares of Meta Platforms by 137.2% during the 1st quarter. 1776 Wealth LLC now owns 1,167 shares of the social networking company’s stock worth $673,000 after buying an additional 675 shares during the last quarter. Smart Money Group LLC boosted its position in shares of Meta Platforms by 20.4% in the 1st quarter. Smart Money Group LLC now owns 2,052 shares of the social networking company’s stock worth $1,182,000 after buying an additional 348 shares in the last quarter. Finally, Spear Holdings RSC Ltd purchased a new stake in shares of Meta Platforms in the 1st quarter worth about $37,463,000. Institutional investors and hedge funds own 79.91% of the company’s stock.
Meta Platforms Price Performance
META stock opened at $627.08 on Wednesday. The stock has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 1.40 and a beta of 1.20. 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, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The stock’s fifty day simple moving average is $721.92 and its 200-day simple moving average is $705.05.
Meta Platforms Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio is currently 9.28%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. Erste Group Bank cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a research report on Monday. Mizuho cut their price objective on Meta Platforms from $925.00 to $815.00 and set an “outperform” rating for the company in a research report on Thursday, October 30th. Canaccord Genuity Group reiterated a “buy” rating and set a $900.00 target price on shares of Meta Platforms in a report on Thursday, October 30th. Loop Capital reissued a “buy” rating and set a $980.00 price target (up previously from $888.00) on shares of Meta Platforms in a research report on Tuesday, August 5th. Finally, Rosenblatt Securities upped their price objective on Meta Platforms from $1,086.00 to $1,117.00 and gave the company a “buy” rating in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $827.60.
View Our Latest Stock Analysis on META
Insider Activity at Meta Platforms
In other Meta Platforms news, CTO Andrew Bosworth sold 11,694 shares of Meta Platforms stock in a transaction on Monday, August 18th. The shares were sold at an average price of $775.00, for a total value of $9,062,850.00. Following the transaction, the chief technology officer owned 1,799 shares in the company, valued at $1,394,225. This trade represents a 86.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Susan J. Li sold 18,332 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $764.71, for a total transaction of $14,018,663.72. Following the sale, the chief financial officer directly owned 84,141 shares of the company’s stock, valued at $64,343,464.11. This represents a 17.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 58,397 shares of company stock valued at $44,662,165. Insiders own 13.61% of the company’s stock.
About Meta Platforms
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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