Marsico Capital Management LLC Has $260.96 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Marsico Capital Management LLC lessened its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 517,551 shares of the social networking company’s stock after selling 18,949 shares during the quarter. Meta Platforms accounts for approximately 7.8% of Marsico Capital Management LLC’s investment portfolio, making the stock its 2nd biggest holding. Marsico Capital Management LLC’s holdings in Meta Platforms were worth $260,960,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vantage Financial Partners LLC grew its stake in Meta Platforms by 3.2% in the fourth 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 in the last quarter. Concentrum Wealth Management grew its stake in shares of Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after buying an additional 3,888,308 shares in the last quarter. Aveo Capital Partners LLC increased its holdings in 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 raised its position in Meta Platforms by 66.4% during the fourth quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock worth $1,413,000 after acquiring an additional 1,594 shares in the last quarter. Finally, Rollins Financial lifted 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. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were 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 $19,848,320.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. 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. 13.71% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

META has been the topic of several research analyst reports. Robert W. Baird upped their price objective on Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. JMP Securities restated a “market outperform” rating and issued a $525.00 price target on shares of Meta Platforms in a research note on Tuesday, July 30th. 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 report on Tuesday, August 6th. Rosenblatt Securities raised their target price on shares of Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Citigroup upped their price target on shares of Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two research 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 company. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $577.26.

Meta Platforms Stock Performance

Shares of META opened at $561.35 on Friday. The stock has a market capitalization of $1.42 trillion, a P/E ratio of 32.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. 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 firm’s fifty day simple moving average is $506.33 and its two-hundred day simple moving average is $496.78. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $564.50.

Meta Platforms (NASDAQ:META) 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 during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the company posted $3.23 earnings per share. As a group, analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors 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 yield of 0.36%. The ex-dividend date is Monday, September 16th. 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.