RAM Investment Partners LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 11.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,650 shares of the social networking company’s stock after purchasing an additional 282 shares during the quarter. Meta Platforms accounts for about 0.4% of RAM Investment Partners LLC’s holdings, making the stock its 22nd largest holding. RAM Investment Partners LLC’s holdings in Meta Platforms were worth $1,956,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of META. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Meta Platforms during the 1st quarter valued at approximately $33,000. Evergreen Private Wealth LLC lifted its holdings in Meta Platforms by 237.5% during the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 38 shares in the last quarter. Briaud Financial Planning Inc purchased a new stake in shares of Meta Platforms during the second quarter worth about $42,000. WFA Asset Management Corp raised its position in shares of Meta Platforms by 42.6% during the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock worth $49,000 after purchasing an additional 20 shares during the last quarter. Finally, Maseco LLP acquired a new position in shares of Meta Platforms during the 2nd quarter worth about $54,000. 79.91% of the stock is owned by institutional investors and hedge funds.
Meta Platforms Trading Up 3.2%
Shares of META opened at $613.05 on Tuesday. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The firm has a market capitalization of $1.55 trillion, a P/E ratio of 27.08, a P/E/G ratio of 1.24 and a beta of 1.20. The firm has a 50-day moving average price of $694.63 and a 200 day moving average price of $706.53. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15.
Meta Platforms Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, September 22nd. Meta Platforms’s dividend payout ratio is presently 9.28%.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Royal Bank Of Canada cut their price objective on Meta Platforms from $840.00 to $810.00 and set an “outperform” rating for the company in a research note on Thursday, October 30th. Monness Crespi & Hardt dropped their price target on Meta Platforms from $860.00 to $808.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Wedbush restated an “outperform” rating and issued a $920.00 price objective on shares of Meta Platforms in a report on Thursday, October 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $900.00 target price on shares of Meta Platforms in a research note on Thursday, October 30th. Finally, DA Davidson set a $825.00 target price on shares of Meta Platforms in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $823.93.
View Our Latest Stock Analysis on META
Insider Activity at Meta Platforms
In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total value of $307,040.40. Following the transaction, the insider owned 34,631 shares of the company’s stock, valued at $20,487,699.60. This represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Aaron Anderson sold 726 shares of the stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $591.60, for a total transaction of $429,501.60. Following the transaction, the chief accounting officer directly owned 6,035 shares of the company’s stock, valued at approximately $3,570,306. This trade represents a 10.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,923 shares of company stock valued at $26,126,437 over the last 90 days. Corporate insiders own 13.61% of the company’s stock.
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.
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