Silicon Valley Capital Partners Grows Holdings in Meta Platforms, Inc. $META

Silicon Valley Capital Partners raised its position in Meta Platforms, Inc. (NASDAQ:META) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,552 shares of the social networking company’s stock after buying an additional 1,976 shares during the period. Meta Platforms accounts for 3.0% of Silicon Valley Capital Partners’ investment portfolio, making the stock its 12th biggest holding. Silicon Valley Capital Partners’ holdings in Meta Platforms were worth $28,455,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bare Financial Services Inc purchased a new stake in shares of Meta Platforms during the second quarter valued at approximately $30,000. Evergreen Private Wealth LLC grew its stake in Meta Platforms by 237.5% in the 2nd 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 period. Briaud Financial Planning Inc bought a new position in Meta Platforms in the 2nd quarter valued at $42,000. Knuff & Co LLC purchased a new stake in shares of Meta Platforms during the 2nd quarter valued at $44,000. Finally, WFA Asset Management Corp raised its stake 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 period. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Meta Platforms from $820.00 to $750.00 and set an “overweight” rating for the company in a research report on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Meta Platforms in a research note on Monday, December 8th. Truist Financial decreased their price target on shares of Meta Platforms from $900.00 to $875.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Bank of America lowered their price target on shares of Meta Platforms from $900.00 to $810.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, Stifel Nicolaus decreased their target price on Meta Platforms from $900.00 to $875.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $819.46.

Insider Buying and Selling at Meta Platforms

In related news, CFO Susan J. Li sold 6,875 shares of the company’s stock in a transaction that occurred on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total transaction of $4,190,037.50. Following the sale, the chief financial officer owned 88,370 shares of the company’s stock, valued at approximately $53,857,980.20. This represents a 7.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert M. Kimmitt sold 600 shares of the stock in a transaction that occurred 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 in the company, valued at $4,476,894.45. This represents a 7.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 40,458 shares of company stock worth $25,436,200. 13.61% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 0.5%

Shares of META stock opened at $647.51 on Tuesday. The company’s fifty day simple moving average is $664.55 and its two-hundred day simple moving average is $707.70. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.98 and a quick ratio of 1.98. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The stock has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 28.60, a PEG ratio of 1.35 and a beta of 1.28.

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

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be paid a $0.525 dividend. 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 currently 9.28%.

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.