ASB Consultores LLC Has $1.76 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

ASB Consultores LLC cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 36.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,494 shares of the social networking company’s stock after selling 2,037 shares during the quarter. Meta Platforms accounts for 0.6% of ASB Consultores LLC’s investment portfolio, making the stock its 20th largest holding. ASB Consultores LLC’s holdings in Meta Platforms were worth $1,762,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vantage Financial Partners LLC boosted its holdings 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 worth $468,000 after acquiring an additional 41 shares in the last quarter. Concentrum Wealth Management grew its position in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after purchasing an additional 3,888,308 shares during the period. Aveo Capital Partners LLC increased its stake in Meta Platforms by 45.7% during the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock valued at $815,000 after purchasing an additional 722 shares in the last quarter. 9258 Wealth Management LLC raised its holdings 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 buying an additional 1,594 shares during the last quarter. Finally, Rollins Financial lifted its stake in shares of 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 buying an additional 2,133 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

Shares of META opened at $561.35 on Monday. 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 stock 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 52-week low of $279.40 and a 52-week high of $564.50. The stock’s 50-day simple moving average is $507.58 and its 200 day simple moving average is $497.27.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the business earned $3.23 earnings per share. Research analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders 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 dividend yield of 0.36%. Meta Platforms’s payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

META has been the subject of several recent research reports. Evercore ISI upped their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price objective on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. KeyCorp increased their price target on Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus raised their price objective on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 150 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 346,666 shares of company stock worth $180,145,414. Corporate insiders own 13.71% of the company’s stock.

About Meta Platforms

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.