Seven Eight Capital LP acquired a new stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 5,406 shares of the social networking company’s stock, valued at approximately $2,726,000.
A number of other hedge funds have also recently bought and sold shares of the company. Vantage Financial Partners LLC lifted its position in Meta Platforms by 3.2% during the 4th quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after purchasing an additional 41 shares during the period. Concentrum Wealth Management raised its stake in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares during the last quarter. Aveo Capital Partners LLC raised its stake in shares of Meta Platforms by 45.7% during the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after buying an additional 722 shares during the last quarter. 9258 Wealth Management LLC lifted its holdings in Meta Platforms by 66.4% in the fourth quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock valued at $1,413,000 after buying an additional 1,594 shares during the period. Finally, Rollins Financial boosted its stake in Meta Platforms by 7.5% in the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after acquiring an additional 2,133 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total value of $486,636.60. Following the completion of the sale, the insider now directly owns 36,912 shares of the company’s stock, valued at $19,848,320.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total value of $486,636.60. Following the sale, the insider now owns 36,912 shares in the company, valued at approximately $19,848,320.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the completion of the transaction, the chief operating officer now owns 14,424 shares in the company, valued at $7,744,534.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 356,426 shares of company stock worth $185,053,425. Company insiders own 13.71% of the company’s stock.
Analyst Upgrades and Downgrades
Get Our Latest Stock Report on META
Meta Platforms Stock Up 0.4 %
NASDAQ:META opened at $561.35 on Friday. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $564.50. The firm has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. 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 stock’s 50 day moving average price is $506.33 and its two-hundred day moving average price is $496.78.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. During the same period in the previous year, the company earned $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts expect that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The firm also recently declared 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 0.36%. The ex-dividend date 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.
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