17 Capital Partners LLC Purchases 35 Shares of Meta Platforms, Inc. $META

by · The Cerbat Gem

17 Capital Partners LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 0.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,940 shares of the social networking company’s stock after purchasing an additional 35 shares during the quarter. Meta Platforms accounts for 16.3% of 17 Capital Partners LLC’s holdings, making the stock its biggest holding. 17 Capital Partners LLC’s holdings in Meta Platforms were worth $25,325,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Meta Platforms by 67,172.9% during the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock valued at $13,517,178,000 after buying an additional 23,417,803 shares during the last quarter. Nuveen LLC bought a new stake in shares of Meta Platforms during the 1st quarter valued at $2,990,544,000. Northern Trust Corp boosted its holdings in Meta Platforms by 13.5% in the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock valued at $13,727,613,000 after purchasing an additional 2,787,832 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Meta Platforms by 712.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company’s stock valued at $1,462,589,000 after buying an additional 2,225,186 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Meta Platforms during the 4th quarter valued at $1,162,918,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Trading Down 2.3%

META opened at $767.37 on Tuesday. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. The stock has a market cap of $1.93 trillion, a price-to-earnings ratio of 27.78, a P/E/G ratio of 1.63 and a beta of 1.27. The stock’s 50 day moving average price is $725.90 and its 200-day moving average price is $655.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97.

Meta Platforms (NASDAQ:META – Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating analysts’ consensus estimates of $5.75 by $1.39. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The business had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. During the same quarter last year, the business posted $5.16 EPS. The company’s revenue was up 21.6% on a year-over-year basis. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio is 7.60%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 1,037 shares of the company’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $785.18, for a total transaction of $814,231.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Christopher K. Cox sold 15,000 shares of Meta Platforms stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $767.80, for a total transaction of $11,517,000.00. Following the completion of the transaction, the insider owned 222,205 shares in the company, valued at approximately $170,608,999. This trade represents a 6.32% 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 worth $199,652,003 over the last three months. 13.61% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

META has been the subject of a number of research analyst reports. Bank of America raised their target price on Meta Platforms from $775.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Wedbush lifted their price target on shares of Meta Platforms from $750.00 to $920.00 and gave the company an “outperform” rating in a report on Thursday, July 31st. Citizens Jmp upped their target price on shares of Meta Platforms from $750.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, July 31st. Susquehanna cut their price target on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. Finally, HSBC upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and increased their price objective for the company from $610.00 to $900.00 in a research note on Thursday, July 31st. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $822.41.

Get Our Latest Stock Analysis on META

Meta Platforms Profile

(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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