Symmetry Investments LP Buys 11,954 Shares of Meta Platforms, Inc. (NASDAQ:META)

Symmetry Investments LP grew its position in Meta Platforms, Inc. (NASDAQ:META) by 75.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,799 shares of the social networking company’s stock after purchasing an additional 11,954 shares during the quarter. Meta Platforms makes up approximately 1.6% of Symmetry Investments LP’s portfolio, making the stock its 15th largest holding. Symmetry Investments LP’s holdings in Meta Platforms were worth $14,017,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Vantage Financial Partners LLC raised its stake in shares of Meta Platforms by 3.2% in the 4th quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after buying an additional 41 shares in the last quarter. Concentrum Wealth Management increased its stake in 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 acquiring an additional 3,888,308 shares during the period. Aveo Capital Partners LLC raised its position in Meta Platforms by 45.7% in the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after purchasing an additional 722 shares in the last quarter. 9258 Wealth Management LLC lifted its stake 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 purchasing an additional 1,594 shares during the period. Finally, Rollins Financial boosted its holdings in Meta Platforms by 7.5% during the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after purchasing an additional 2,133 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms 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 completion of the sale, the insider now owns 36,912 shares in the company, valued at approximately $19,848,320.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 in the company, valued at $19,848,320.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 346,666 shares of company stock worth $180,145,414. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.4 %

Shares of META stock opened at $561.35 on Monday. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $564.50. The company has a market capitalization of $1.42 trillion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The firm has a 50 day moving average price of $507.58 and a two-hundred day moving average price of $497.27. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $3.23 EPS. As a group, analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced 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 presently 11.49%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on META shares. Susquehanna increased their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. TD Cowen upped their target price on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Piper Sandler increased their target price on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Sanford C. Bernstein boosted their price target on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $577.26.

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.