Titleist Asset Management LLC Has $4.53 Million Stake in Meta Platforms, Inc. $META

Titleist Asset Management LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 20.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,138 shares of the social networking company’s stock after buying an additional 1,057 shares during the period. Titleist Asset Management LLC’s holdings in Meta Platforms were worth $4,530,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Evergreen Private Wealth LLC raised its holdings in shares of Meta Platforms by 237.5% in 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 during the last quarter. Briaud Financial Planning Inc acquired a new position in Meta Platforms during the second quarter worth $42,000. WFA Asset Management Corp grew its position in Meta Platforms by 42.6% in the second quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after purchasing an additional 20 shares in the last quarter. Maseco LLP acquired a new stake in Meta Platforms in the 2nd quarter valued at $54,000. Finally, Piscataqua Savings Bank increased its stake in Meta Platforms by 433.3% in the 2nd quarter. Piscataqua Savings Bank now owns 80 shares of the social networking company’s stock valued at $59,000 after buying an additional 65 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, Director Robert M. Kimmitt sold 600 shares of Meta Platforms stock in a transaction on Monday, November 17th. The stock was sold at an average price of $609.35, for a total transaction of $365,610.00. Following the completion of the sale, the director owned 7,347 shares of the company’s stock, valued at approximately $4,476,894.45. This trade represents a 7.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 11,690 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the completion of the transaction, the chief technology officer owned 2,415 shares in the company, valued at $1,432,843.65. This trade represents a 82.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,923 shares of company stock worth $26,007,416 in the last 90 days. Company insiders own 13.61% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $647.10 on Wednesday. The stock has a market cap of $1.63 trillion, a PE ratio of 28.58, a P/E/G ratio of 1.34 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. The firm has a 50-day moving average of $678.73 and a 200-day moving average of $706.59. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. The business had revenue of $51.24 billion for the quarter, compared to analyst estimates of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. Meta Platforms’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.03 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.525 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is 9.28%.

Analysts Set New Price Targets

A number of research firms have recently commented on META. Barclays reduced their price objective on shares of Meta Platforms from $810.00 to $770.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Jefferies Financial Group reduced their price target on Meta Platforms from $950.00 to $910.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Stifel Nicolaus decreased their price target on Meta Platforms from $900.00 to $875.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $920.00 price target on shares of Meta Platforms in a research report on Thursday, October 30th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $900.00 price objective on shares of Meta Platforms in a report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $823.93.

About Meta Platforms

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.