TPG Advisors LLC Purchases New Shares in Meta Platforms, Inc. (NASDAQ:META)

TPG Advisors LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 787 shares of the social networking company’s stock, valued at approximately $397,000.

Several other hedge funds have also modified their holdings of the company. Capital Research Global Investors lifted its position in shares of Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after buying an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management raised its position in Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after acquiring an additional 3,888,308 shares during the period. Vanguard Group Inc. lifted its holdings in Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares in the last quarter. Jennison Associates LLC grew its position in shares of Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the period. Finally, Sustainable Growth Advisers LP purchased a new stake in shares of Meta Platforms during the second quarter worth about $595,152,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on 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 of the company’s stock, 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. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction that occurred 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the sale, the chief executive officer now owns 230,461 shares of the company’s stock, valued at approximately $117,737,915.68. The disclosure for this sale can be found here. Insiders have sold a total of 346,666 shares of company stock valued at $180,145,414 over the last 90 days. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Meta Platforms stock opened at $561.35 on Monday. 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, Inc. has a 52-week low of $279.40 and a 52-week high of $564.50. The firm has a market cap 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 company’s 50 day moving average is $507.58 and its two-hundred day moving average is $497.27.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period last year, the business posted $3.23 earnings per share. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. On average, research analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company 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. 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 11.49%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research note on Wednesday, July 24th. JMP Securities reiterated a “market outperform” rating and issued a $525.00 target price on shares of Meta Platforms in a research report on Tuesday, July 30th. Finally, BMO Capital Markets restated a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research report on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target 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.