Princeton Capital Management LLC Grows Holdings in Meta Platforms, Inc. (NASDAQ:META)

Princeton Capital Management LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 37.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 788 shares of the social networking company’s stock after buying an additional 214 shares during the quarter. Princeton Capital Management LLC’s holdings in Meta Platforms were worth $397,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Delos Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms during the second quarter worth $38,000. Ruedi Wealth Management Inc. lifted its stake in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Meta Platforms during the fourth quarter worth $32,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on META shares. Wells Fargo & Company raised their price objective on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Cantor Fitzgerald started coverage on Meta Platforms in a research note on Thursday. They set an “overweight” rating and a $660.00 price objective on the stock. Truist Financial raised their price objective on Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. UBS Group raised their price objective on Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus raised their target price on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $576.66.

Meta Platforms Trading Up 0.8 %

Shares of META opened at $516.86 on Friday. The business’s 50-day moving average price is $505.26 and its 200 day moving average price is $493.93. The stock has a market capitalization of $1.31 trillion, a P/E ratio of 29.69, a P/E/G ratio of 1.29 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping 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 firm 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 EPS. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. Analysts expect that Meta Platforms, Inc. will post 21.3 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction 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 approximately $62,254,449.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 transaction 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 approximately $62,254,449.63. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $536.92, for a total value of $221,747.96. Following 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. In the last ninety days, insiders sold 390,977 shares of company stock worth $202,384,548. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Company 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.