Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 24.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 835,826 shares of the social networking company’s stock after purchasing an additional 165,849 shares during the period. Meta Platforms accounts for about 2.3% of Harel Insurance Investments & Financial Services Ltd.’s investment portfolio, making the stock its 13th biggest holding. Harel Insurance Investments & Financial Services Ltd.’s holdings in Meta Platforms were worth $470,807,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after buying an additional 570 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after acquiring an additional 875 shares in the last quarter. Headwater Capital Co Ltd lifted its stake in Meta Platforms by 294.7% in the first quarter. Headwater Capital Co Ltd now owns 150,000 shares of the social networking company’s stock valued at $86,454,000 after acquiring an additional 112,000 shares during the last quarter. Dymon Asia Capital Singapore PTE. LTD. bought a new position in shares of Meta Platforms in the 2nd quarter valued at about $213,000. Finally, Capital & Planning LLC acquired a new position in shares of Meta Platforms during the 2nd quarter worth about $322,000. 79.91% of the stock is currently owned by institutional investors.
Meta Platforms News Summary
Here are the key news stories impacting Meta Platforms this week:
- Positive Sentiment: Meta is reportedly preparing to launch Hatch, a consumer AI agent that could let users browse Reddit, order from DoorDash, shop on Etsy, access Yelp and manage Outlook within Meta’s ecosystem. The product could increase engagement with Meta’s platforms and strengthen its position in consumer AI. Reddit Stock Is Up, What You Need to Know
- Positive Sentiment: Analysts continue to point to accelerating advertising growth, AI-powered ad tools, rising user engagement and increased advertiser adoption as factors helping Meta outperform social-media rivals Reddit and Snap. META Rides on Ad Growth
- Positive Sentiment: Former OpenAI researcher Luke Metz has joined Meta’s Superintelligence Labs and will report to AI chief Alexandr Wang. The hire supports Meta’s effort to build advanced AI capabilities, although the financial benefits are longer term. Luke Metz Joins Meta’s Superintelligence Labs
- Neutral Sentiment: Reports highlighted substantial Meta insider-trading activity during August, including notable transactions on August 18. The article did not establish whether the activity represented buying or selling, limiting its immediate stock-price significance. Monster Insider Trading Alert for Meta Stock
- Negative Sentiment: Instagram chief Adam Mosseri is testifying in a lawsuit brought by 29 states alleging that Meta designed Instagram and Facebook to be addictive to children while downplaying safety risks. An adverse outcome could create regulatory, redesign and financial costs. Instagram Head Adam Mosseri to Testify at Meta Trial
Insider Buying and Selling
Meta Platforms Stock Up 2.0%
Shares of META opened at $570.05 on Wednesday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. Meta Platforms, Inc. has a 12 month low of $520.26 and a 12 month high of $790.80. The firm’s 50 day moving average is $592.21 and its 200-day moving average is $613.14. The stock has a market capitalization of $1.45 trillion, a PE ratio of 21.47, a P/E/G ratio of 0.95 and a beta of 1.25.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The social networking company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.19 by ($1.01). Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%.The company had revenue of $60.80 billion for the quarter, compared to analyst estimates of $60.22 billion. During the same period in the prior year, the company earned $7.14 EPS. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. Equities research analysts forecast that Meta Platforms, Inc. will post 28.5 EPS for the current year.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were given a $0.525 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.4%. Meta Platforms’s dividend payout ratio (DPR) is presently 7.91%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. Truist Financial lowered their price target on Meta Platforms from $840.00 to $770.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Evercore reiterated an “outperform” rating on shares of Meta Platforms in a research note on Thursday, July 30th. Royal Bank Of Canada restated an “outperform” rating and issued a $810.00 price target on shares of Meta Platforms in a research note on Monday, June 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Wednesday, July 8th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $800.00 target price on shares of Meta Platforms in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $785.32.
Get Our Latest Stock Analysis on META
About Meta Platforms
Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.
Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.
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