US Asset Management LLC Has $3.11 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

US Asset Management LLC lessened its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 6,171 shares of the social networking company’s stock after selling 220 shares during the quarter. Meta Platforms makes up approximately 2.8% of US Asset Management LLC’s investment portfolio, making the stock its 6th largest holding. US Asset Management LLC’s holdings in Meta Platforms were worth $3,112,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vantage Financial Partners LLC grew its stake in shares of Meta Platforms by 3.2% in the 4th quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after buying an additional 41 shares during the period. Concentrum Wealth Management lifted its holdings in shares of Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares in the last quarter. Aveo Capital Partners LLC grew its position in Meta Platforms by 45.7% in the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock valued at $815,000 after purchasing an additional 722 shares during the period. 9258 Wealth Management LLC increased its stake in Meta Platforms by 66.4% during the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock valued at $1,413,000 after purchasing an additional 1,594 shares in the last quarter. Finally, Rollins Financial raised its holdings in Meta Platforms by 7.5% during the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock worth $10,851,000 after buying an additional 2,133 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Evercore ISI raised their price objective on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Barclays upped their target price on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Roth Mkm boosted their price target on shares of Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Cantor Fitzgerald started coverage on shares of Meta Platforms in a research note on Thursday, September 5th. They issued an “overweight” rating and a $660.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the sale, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. The disclosure for this sale can be found here. Insiders sold 357,574 shares of company stock worth $185,587,773 over the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 1.7 %

NASDAQ:META opened at $533.28 on Tuesday. The firm has a market capitalization of $1.35 trillion, a P/E ratio of 30.63, a P/E/G ratio of 1.26 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. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average of $505.21 and a 200 day moving average of $495.81.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the previous year, the business earned $3.23 EPS. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. On average, research analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors 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 payout ratio is currently 11.49%.

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.