Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 0.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,340,535 shares of the social networking company’s stock after purchasing an additional 32,804 shares during the quarter. Meta Platforms comprises about 2.1% of Rhumbline Advisers’ portfolio, making the stock its 5th biggest holding. Rhumbline Advisers owned 0.17% of Meta Platforms worth $2,188,584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. S.A. Mason LLC boosted its position in Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after purchasing an additional 20 shares during the period. Horizon Bancorp Inc. IN boosted its position in shares of Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after acquiring an additional 21 shares during the period. Northern Capital Management Inc. boosted its position in shares of Meta Platforms by 3.4% in the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after acquiring an additional 21 shares during the period. Buckingham Capital Management Inc. boosted its position in shares of Meta Platforms by 5.1% in the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after acquiring an additional 21 shares during the period. Finally, LongView Wealth Management boosted its position in shares of Meta Platforms by 1.3% in the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $516.86 on Friday. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23. The firm has a market cap of $1.31 trillion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The business has a fifty day moving average of $505.26 and a 200-day moving average of $493.93.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period last year, the company posted $3.23 earnings per share. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts predict that Meta Platforms, Inc. will post 21.3 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the completion of the sale, the chief operating officer now owns 14,424 shares of the company’s stock, valued at $7,744,534.08. The disclosure for this sale can be found here. Insiders sold a total of 390,977 shares of company stock worth $202,384,548 over the last three months. 13.71% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on META. Tigress Financial increased their price objective on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Piper Sandler increased their price objective on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Bank of America increased their price objective on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Evercore ISI increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Truist Financial raised their target price on Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $576.66.

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.