Investment Management Corp VA ADV Has $658,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Investment Management Corp VA ADV raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 20.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,141 shares of the social networking company’s stock after buying an additional 193 shares during the period. Meta Platforms accounts for 0.6% of Investment Management Corp VA ADV’s holdings, making the stock its 27th largest holding. Investment Management Corp VA ADV’s holdings in Meta Platforms were worth $658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in META. Inlight Wealth Management LLC acquired a new position in shares of Meta Platforms during the first quarter worth $25,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Meta Platforms during the first quarter worth $28,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms during the fourth quarter worth $45,000. JCIC Asset Management Inc. lifted its holdings in shares of Meta Platforms by 102.6% during the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company’s stock worth $46,000 after purchasing an additional 40 shares during the period. Finally, Stuart Chaussee & Associates Inc. acquired a new position in shares of Meta Platforms during the fourth quarter worth $47,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the topic of several recent analyst reports. Loop Capital boosted their target price on shares of Meta Platforms from $695.00 to $888.00 and gave the company a “buy” rating in a report on Friday, May 16th. Roth Capital boosted their target price on shares of Meta Platforms from $620.00 to $740.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Wells Fargo & Company boosted their target price on shares of Meta Platforms from $664.00 to $783.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Royal Bank Of Canada restated an “outperform” rating and issued a $740.00 target price on shares of Meta Platforms in a report on Thursday, May 1st. Finally, Jefferies Financial Group dropped their target price on shares of Meta Platforms from $725.00 to $600.00 and set a “buy” rating on the stock in a report on Monday, April 7th. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $754.07.

Meta Platforms Stock Down 0.7%

Meta Platforms stock opened at $695.21 on Thursday. Meta Platforms, Inc. has a fifty-two week low of $450.80 and a fifty-two week high of $747.90. The stock has a market cap of $1.75 trillion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 1.68 and a beta of 1.28. The firm’s 50-day simple moving average is $696.48 and its 200 day simple moving average is $643.47. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results 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 business had revenue of $47.52 billion for the quarter, compared to analysts’ expectations of $44.55 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same period in the previous year, the company earned $5.16 earnings per share. Research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date was Monday, June 16th. Meta Platforms’s payout ratio is 8.19%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of the business’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $701.13, for a total value of $9,670,686.09. Following the transaction, the chief executive officer directly owned 118,279 shares in the company, valued at $82,928,955.27. The trade was a 10.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Andrew Bosworth sold 22,449 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the transaction, the chief technology officer owned 1,183 shares in the company, valued at approximately $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 152,461 shares of company stock worth $105,335,225 over the last three months. 13.61% of the stock is currently owned by insiders.

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.