Westover Capital Advisors LLC Has $2.26 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Westover Capital Advisors LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 14.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,474 shares of the social networking company’s stock after acquiring an additional 555 shares during the period. Westover Capital Advisors LLC’s holdings in Meta Platforms were worth $2,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in META. S.A. Mason LLC lifted its position in Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after buying an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings 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 purchasing an additional 21 shares in the last quarter. Northern Capital Management Inc. raised its position in Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after purchasing an additional 21 shares during the last quarter. Buckingham Capital Management Inc. lifted its holdings 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 in the last quarter. Finally, LongView Wealth Management increased its stake in shares of Meta Platforms by 1.3% in 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 during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the transaction, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the sale, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. The disclosure for this sale can be found here. In the last three months, insiders sold 357,574 shares of company stock worth $185,587,773. 13.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Susquehanna upped their price target on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Wedbush restated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research report on Wednesday, July 24th. Citigroup increased their target price on Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird boosted their target price on Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Loop Capital lifted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $577.26.

Meta Platforms Stock Up 1.7 %

META stock opened at $533.28 on Tuesday. The business’s fifty day moving average price is $505.21 and its two-hundred day moving average price is $495.81. The stock has a market capitalization of $1.35 trillion, a price-to-earnings ratio of 30.63, a PEG ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the company earned $3.23 EPS. The business’s revenue was up 22.1% on a year-over-year basis. On average, equities analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.38%. Meta Platforms’s dividend payout ratio is presently 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.