Meta Platforms, Inc. (NASDAQ:META) is Deltec Asset Management LLC’s 9th Largest Position

Deltec Asset Management LLC cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 11.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,577 shares of the social networking company’s stock after selling 3,250 shares during the quarter. Meta Platforms comprises approximately 2.5% of Deltec Asset Management LLC’s holdings, making the stock its 9th largest holding. Deltec Asset Management LLC’s holdings in Meta Platforms were worth $12,896,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Quest Partners LLC bought a new stake in Meta Platforms during the 4th quarter valued at about $32,000. Clear Investment Research LLC increased its position in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Delos Wealth Advisors LLC increased its holdings in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. Richardson Financial Services Inc. raised its position in shares of Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in Meta Platforms in the first quarter worth about $44,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on META. Wolfe Research initiated coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price for the company. BNP Paribas started coverage on shares of Meta Platforms in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price for the company. Wedbush restated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research note on Wednesday, July 24th. Wells Fargo & Company boosted their price objective on shares of Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Robert W. Baird lifted their price target on Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus target price of $572.51.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the sale, the director now directly owns 630,293 shares in the company, valued at $300,466,976.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the transaction, the chief executive officer now owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 315,770 shares of company stock valued at $157,719,910. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Trading Down 0.3 %

Meta Platforms stock traded down $1.78 during mid-day trading on Wednesday, hitting $526.76. The company’s stock had a trading volume of 11,426,369 shares, compared to its average volume of 16,390,408. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81. The stock’s fifty day moving average is $498.29 and its two-hundred day moving average is $485.68. The firm has a market capitalization of $1.34 trillion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the prior year, the company posted $3.23 earnings per share. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, analysts anticipate that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Meta Platforms 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.