SCS Capital Management LLC Has $32.69 Million Stake in Meta Platforms, Inc. $META

SCS Capital Management LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 56.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,291 shares of the social networking company’s stock after purchasing an additional 15,954 shares during the quarter. SCS Capital Management LLC’s holdings in Meta Platforms were worth $32,691,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in META. Infusive Asset Management Inc. boosted its holdings in shares of Meta Platforms by 10.7% during the first quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock worth $13,614,000 after acquiring an additional 2,285 shares during the period. Spirepoint Private Client LLC increased its stake in shares of Meta Platforms by 2.7% during the second quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock worth $3,011,000 after purchasing an additional 109 shares during the period. Sequoia Financial Advisors LLC lifted its holdings in Meta Platforms by 11.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 210,526 shares of the social networking company’s stock worth $155,387,000 after purchasing an additional 20,912 shares during the last quarter. Stephens Inc. AR boosted its stake in Meta Platforms by 5.6% in the 2nd quarter. Stephens Inc. AR now owns 84,687 shares of the social networking company’s stock valued at $62,507,000 after purchasing an additional 4,473 shares during the period. Finally, Motiv8 Investments LLC increased its position in Meta Platforms by 11.5% during the 2nd quarter. Motiv8 Investments LLC now owns 2,080 shares of the social networking company’s stock worth $1,535,000 after buying an additional 214 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the subject of a number of recent research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $900.00 target price on shares of Meta Platforms in a research report on Thursday, October 30th. Oppenheimer cut Meta Platforms from an “outperform” rating to a “market perform” rating in a report on Thursday, October 30th. Truist Financial reduced their target price on Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Benchmark cut Meta Platforms from a “buy” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Meta Platforms in a report on Monday. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $821.63.

Meta Platforms Stock Down 1.0%

NASDAQ:META opened at $650.13 on Thursday. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. The company has a market cap of $1.64 trillion, a PE ratio of 28.72, a P/E/G ratio of 1.38 and a beta of 1.28. The firm’s 50 day simple moving average is $668.73 and its 200 day simple moving average is $707.04.

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

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be issued a dividend of $0.525 per share. The ex-dividend date is Monday, December 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.28%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, Director Robert M. Kimmitt sold 600 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $609.35, for a total transaction of $365,610.00. Following the sale, the director owned 7,347 shares of the company’s stock, valued at approximately $4,476,894.45. This represents a 7.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 11,690 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total value of $6,935,793.90. Following the completion of the transaction, the chief technology officer directly owned 2,415 shares in the company, valued at $1,432,843.65. This represents a 82.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 41,440 shares of company stock valued at $26,233,492 over the last three months. 13.61% of the stock is currently owned by corporate insiders.

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.