Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Y.D. More Investments Ltd

Y.D. More Investments Ltd boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 21.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,156 shares of the social networking company’s stock after buying an additional 6,767 shares during the quarter. Meta Platforms accounts for about 1.9% of Y.D. More Investments Ltd’s investment portfolio, making the stock its 11th largest position. Y.D. More Investments Ltd’s holdings in Meta Platforms were worth $21,990,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Accuvest Global Advisors acquired a new position in Meta Platforms in the first quarter worth approximately $3,829,000. Cresta Advisors Ltd. grew its position in Meta Platforms by 25.8% during the 1st quarter. Cresta Advisors Ltd. now owns 4,995 shares of the social networking company’s stock worth $2,879,000 after purchasing an additional 1,023 shares in the last quarter. One Degree Advisors Inc grew its position in Meta Platforms by 36.1% during the 1st quarter. One Degree Advisors Inc now owns 388 shares of the social networking company’s stock worth $223,000 after purchasing an additional 103 shares in the last quarter. Evernest Financial Advisors LLC grew its position in Meta Platforms by 43.3% during the 1st quarter. Evernest Financial Advisors LLC now owns 2,279 shares of the social networking company’s stock worth $1,313,000 after purchasing an additional 689 shares in the last quarter. Finally, Red Crane Wealth Management LLC grew its position in Meta Platforms by 40.1% during the 1st quarter. Red Crane Wealth Management LLC now owns 2,475 shares of the social networking company’s stock worth $1,427,000 after purchasing an additional 708 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, insider Christopher K. Cox sold 15,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $767.80, for a total transaction of $11,517,000.00. Following the sale, the insider directly owned 222,205 shares of the company’s stock, valued at approximately $170,608,999. This represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 517 shares of the company’s stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $760.26, for a total transaction of $393,054.42. Following the sale, the chief operating officer directly owned 5,268 shares in the company, valued at $4,005,049.68. This represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 289,356 shares of company stock valued at $211,138,344 over the last three months. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Stock Performance

NASDAQ META opened at $765.87 on Tuesday. The stock has a market cap of $1.92 trillion, a P/E ratio of 27.73, a PEG ratio of 1.60 and a beta of 1.27. The company’s 50-day simple moving average is $716.43 and its 200 day simple moving average is $652.13. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $784.75. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, topping the consensus estimate of $5.75 by $1.39. The firm had revenue of $47.52 billion for the quarter, compared to analysts’ expectations of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.16 earnings per share. As a group, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed 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. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms’s dividend payout ratio is currently 7.60%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on META. Needham & Company LLC upgraded shares of Meta Platforms from an “underperform” rating to a “hold” rating in a research report on Thursday, July 3rd. JMP Securities lifted their price objective on shares of Meta Platforms from $750.00 to $900.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. Benchmark lifted their price objective on shares of Meta Platforms from $800.00 to $890.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Cantor Fitzgerald lifted their price objective on shares of Meta Platforms from $828.00 to $920.00 and gave the stock an “overweight” rating in a research report on Thursday, July 31st. Finally, Royal Bank Of Canada lifted their price objective on shares of Meta Platforms from $740.00 to $840.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $822.41.

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.