Condor Capital Management Sells 843 Shares of Meta Platforms, Inc. (NASDAQ:META)

Condor Capital Management cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,027 shares of the social networking company’s stock after selling 843 shares during the quarter. Meta Platforms accounts for approximately 1.5% of Condor Capital Management’s investment portfolio, making the stock its 18th largest position. Condor Capital Management’s holdings in Meta Platforms were worth $15,645,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. 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 valued at $645,000 after purchasing an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN increased its position in shares of Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after purchasing an additional 21 shares in the last quarter. Northern Capital Management Inc. lifted its holdings in shares of Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after purchasing an additional 21 shares during the last quarter. Buckingham Capital Management Inc. grew its stake in Meta Platforms by 5.1% during the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after buying an additional 21 shares during the last quarter. Finally, LongView Wealth Management increased its position in Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after buying an additional 22 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 1.7 %

Shares of NASDAQ:META opened at $533.28 on Tuesday. The firm has a 50 day simple moving average of $505.21 and a 200-day simple moving average of $495.81. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month 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. The company has a market capitalization of $1.35 trillion, a PE ratio of 30.63, a P/E/G ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly 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. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.23 earnings per share. On average, equities analysts predict that Meta Platforms, Inc. will post 21.36 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. Shareholders of record on Monday, September 16th will be paid a $0.50 dividend. 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%.

Analyst Ratings Changes

Several research firms have recently commented on META. The Goldman Sachs Group lifted their price objective on shares of Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Barclays upped their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Wolfe Research initiated coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price for the company. Finally, Raymond James lifted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a report on Monday, July 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $577.26.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction on Monday, August 5th. The shares were 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 in the company, valued at approximately $15,034,122.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 357,574 shares of company stock worth $185,587,773. Insiders own 13.71% of the company’s stock.

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.