Sustainable Growth Advisers LP Acquires 289,208 Shares of Meta Platforms, Inc. (NASDAQ:META)

Sustainable Growth Advisers LP boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 23.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,539,292 shares of the social networking company’s stock after buying an additional 289,208 shares during the period. Meta Platforms makes up 4.9% of Sustainable Growth Advisers LP’s holdings, making the stock its 4th largest position. Sustainable Growth Advisers LP’s holdings in Meta Platforms were worth $887,186,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Valley Financial Group Inc. boosted its position in Meta Platforms by 2.4% during the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company’s stock worth $344,000 after purchasing an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC boosted its position in Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company’s stock worth $1,743,000 after purchasing an additional 14 shares in the last quarter. Riverwater Partners LLC boosted its position in Meta Platforms by 2.7% during the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company’s stock worth $335,000 after purchasing an additional 15 shares in the last quarter. ABLE Financial Group LLC boosted its position in Meta Platforms by 0.7% during the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company’s stock worth $1,251,000 after purchasing an additional 15 shares in the last quarter. Finally, Mosaic Family Wealth Partners LLC boosted its position in Meta Platforms by 1.2% during the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company’s stock worth $840,000 after purchasing an additional 17 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on META shares. Robert W. Baird increased their price target on Meta Platforms from $635.00 to $740.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 2nd. Raymond James Financial lowered their price target on Meta Platforms from $800.00 to $750.00 and set a “strong-buy” rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group increased their price target on Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a research report on Thursday, May 1st. Pivotal Research decreased their target price on Meta Platforms from $875.00 to $830.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Bank of America raised their target price on Meta Platforms from $690.00 to $765.00 and gave the company a “buy” rating in a research report on Thursday, July 10th. Five investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $752.33.

View Our Latest Research Report on Meta Platforms

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $706.41, for a total transaction of $365,213.97. Following the sale, the chief operating officer owned 6,302 shares of the company’s stock, valued at approximately $4,451,795.82. This represents a 7.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert M. Kimmitt sold 465 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $723.08, for a total transaction of $336,232.20. Following the sale, the director directly owned 9,342 shares in the company, valued at $6,755,013.36. This represents a 4.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 153,473 shares of company stock valued at $105,805,440 over the last three months. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Price Performance

META stock opened at $712.68 on Friday. The business has a fifty day moving average of $692.48 and a two-hundred day moving average of $641.78. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.79 trillion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. Meta Platforms, Inc. has a 52-week low of $450.80 and a 52-week high of $747.90.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion during the quarter, compared to analysts’ expectations of $41.45 billion. During the same quarter last year, the firm earned $4.71 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. As a group, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. Meta Platforms’s dividend payout ratio (DPR) is presently 8.19%.

About Meta Platforms

(Free Report)

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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