Andar Capital Management HK Ltd Purchases New Holdings in Meta Platforms, Inc. (NASDAQ:META)

Andar Capital Management HK Ltd acquired a new position in Meta Platforms, Inc. (NASDAQ:META) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 10,800 shares of the social networking company’s stock, valued at approximately $5,446,000. Meta Platforms comprises about 7.6% of Andar Capital Management HK Ltd’s investment portfolio, making the stock its 3rd largest position.

A number of other institutional investors have also recently bought and sold shares of the business. Quest Partners LLC purchased a new stake in shares of Meta Platforms during the 4th quarter worth approximately $32,000. Clear Investment Research LLC raised its stake in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the period. Delos Wealth Advisors LLC lifted its holdings in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms during the second quarter worth about $38,000. Finally, Ruedi Wealth Management Inc. increased its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total transaction of $486,636.60. Following the transaction, the insider now owns 36,912 shares in the company, valued at approximately $19,848,320.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The shares were 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 hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total transaction of $486,636.60. Following the completion of the transaction, the insider now directly owns 36,912 shares of the company’s stock, valued at $19,848,320.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 356,426 shares of company stock worth $185,053,425. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research note on Thursday, August 1st. Citigroup raised their price target on Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. UBS Group raised their target price on Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Tigress Financial upped their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $577.26.

Meta Platforms Price Performance

META opened at $561.35 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The stock’s 50 day simple moving average is $506.33 and its 200 day simple moving average is $496.78. The firm has a market cap of $1.42 trillion, a price-to-earnings ratio of 32.24, a PEG ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $564.50.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS 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 company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the previous year, the firm earned $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 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.