Meta Platforms, Inc. (NASDAQ:META) is CloudAlpha Capital Management Limited Hong Kong’s 5th Largest Position

CloudAlpha Capital Management Limited Hong Kong raised its position in Meta Platforms, Inc. (NASDAQ:META) by 9.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,180 shares of the social networking company’s stock after purchasing an additional 14,680 shares during the period. Meta Platforms comprises about 7.6% of CloudAlpha Capital Management Limited Hong Kong’s investment portfolio, making the stock its 5th largest position. CloudAlpha Capital Management Limited Hong Kong’s holdings in Meta Platforms were worth $88,833,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Capital World Investors increased its stake in shares of Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after acquiring an additional 244,803 shares during the last quarter. Capital International Investors increased its stake in shares of Meta Platforms by 3.2% during the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after acquiring an additional 1,083,719 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the last quarter. Finally, Sanders Capital LLC grew its holdings in Meta Platforms by 2.4% in the fourth quarter. Sanders Capital LLC now owns 14,569,705 shares of the social networking company’s stock valued at $5,157,093,000 after purchasing an additional 344,384 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Up 0.4 %

NASDAQ:META opened at $561.35 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company 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. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $564.50. The stock has a 50-day simple moving average of $506.33 and a 200 day simple moving average of $496.78.

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. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.23 EPS. Sell-side analysts predict that Meta Platforms, Inc. will post 21.36 EPS 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. Stockholders of record on Monday, September 16th will be given a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on META shares. Wedbush reaffirmed an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research note on Wednesday, July 24th. Piper Sandler lifted their target price on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. TD Securities upped their price target on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, September 4th. Finally, Morgan Stanley boosted their target price on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $577.26.

Insider Activity

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total value of $486,636.60. Following the transaction, the insider now owns 36,912 shares of the company’s stock, valued at $19,848,320.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total value of $8,532,717.76. Following the sale, the chief executive officer now directly owns 230,461 shares in the company, valued at approximately $117,737,915.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’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 completion of the transaction, the insider now owns 36,912 shares of the company’s stock, valued at approximately $19,848,320.64. The disclosure for this sale can be found here. In the last three months, insiders sold 356,426 shares of company stock valued at $185,053,425. Company insiders own 13.71% of the company’s stock.

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.