Private Management Group Inc. Has $555,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

Private Management Group Inc. increased its position in Meta Platforms, Inc. (NASDAQ:META) by 15.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,101 shares of the social networking company’s stock after acquiring an additional 151 shares during the quarter. Private Management Group Inc.’s holdings in Meta Platforms were worth $555,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Baird Financial Group Inc. grew its stake in shares of Meta Platforms by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after acquiring an additional 163,067 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Meta Platforms by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after purchasing an additional 51,900 shares during the period. Voyager Global Management LP raised its position in shares of Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after buying an additional 140,000 shares during the last quarter. Gradient Investments LLC raised its holdings in Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after acquiring an additional 5,953 shares in the last quarter. Finally, Baillie Gifford & Co. lifted its position in shares of Meta Platforms by 14.0% in the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after acquiring an additional 748,076 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on META. TD Cowen boosted their price objective on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Robert W. Baird increased their price objective on shares of Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Morgan Stanley raised their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. The Goldman Sachs Group upped their target price on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, BMO Capital Markets restated a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research note on Wednesday, June 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,054 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $501.05, for a total value of $1,029,156.70. Following the completion of the transaction, the chief executive officer now owns 253,000 shares of the company’s stock, valued at approximately $126,765,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 2,054 shares of Meta Platforms stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $501.05, for a total transaction of $1,029,156.70. Following the transaction, the chief executive officer now directly owns 253,000 shares in the company, valued at $126,765,650. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 357,574 shares of company stock valued at $185,587,773. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $525.60 on Friday. The firm has a fifty day moving average of $505.44 and a two-hundred day moving average of $495.07. 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 stock has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 30.19, a PEG ratio of 1.23 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $544.23.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the prior year, the firm posted $3.23 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, equities research analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

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 issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.