Algert Global LLC Raises Stock Position in Meta Platforms, Inc. $META

by · The Cerbat Gem

Algert Global LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 13.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,959 shares of the social networking company’s stock after acquiring an additional 1,752 shares during the period. Algert Global LLC’s holdings in Meta Platforms were worth $8,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Inlight Wealth Management LLC acquired a new position in Meta Platforms during the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Meta Platforms in the first quarter worth about $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Meta Platforms during the first quarter worth about $33,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Meta Platforms during the fourth quarter valued at about $45,000. Finally, JCIC Asset Management Inc. increased 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 valued at $46,000 after acquiring an additional 40 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META stock opened at $767.37 on Tuesday. The firm has a 50 day moving average of $725.90 and a two-hundred day moving average of $655.75. The stock has a market capitalization of $1.93 trillion, a PE ratio of 27.78, a P/E/G ratio of 1.63 and a beta of 1.27. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25.

Meta Platforms (NASDAQ:META – Get Free Report) last released its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping the consensus estimate of $5.75 by $1.39. The firm had revenue of $47.52 billion during the quarter, compared to analysts’ expectations of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. Meta Platforms’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm posted $5.16 EPS. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s payout ratio is currently 7.60%.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction on Friday, August 1st. The shares were sold at an average price of $753.43, for a total transaction of $11,939,605.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher K. Cox sold 60,000 shares of the business’s stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the transaction, the insider owned 237,205 shares of the company’s stock, valued at approximately $184,059,219.75. The trade was a 20.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 267,732 shares of company stock valued at $199,652,003 in the last quarter. 13.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. DA Davidson lifted their target price on shares of Meta Platforms from $650.00 to $825.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Citizens Jmp lifted their price objective on shares of Meta Platforms from $750.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. BMO Capital Markets boosted their price objective on shares of Meta Platforms from $610.00 to $710.00 and gave the company a “market perform” rating in a report on Thursday, July 31st. TD Cowen raised their target price on Meta Platforms from $800.00 to $875.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Finally, Raymond James Financial lifted their price target on Meta Platforms from $750.00 to $900.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 31st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $822.41.

Check Out Our Latest Research Report on Meta Platforms

About Meta Platforms

(Free Report)

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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