Transatlantique Private Wealth LLC Acquires 333 Shares of Meta Platforms, Inc. (NASDAQ:META)

Transatlantique Private Wealth LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,787 shares of the social networking company’s stock after buying an additional 333 shares during the period. Meta Platforms accounts for approximately 1.0% of Transatlantique Private Wealth LLC’s portfolio, making the stock its 24th biggest holding. Transatlantique Private Wealth LLC’s holdings in Meta Platforms were worth $2,410,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. TPG Advisors LLC bought a new position in shares of Meta Platforms in the second quarter valued at approximately $397,000. Investidor Profissional Gestao de Recursos Ltda. grew its stake in Meta Platforms by 104.2% in the 2nd quarter. Investidor Profissional Gestao de Recursos Ltda. now owns 34,255 shares of the social networking company’s stock valued at $17,272,000 after buying an additional 17,481 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in Meta Platforms by 2.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,537,107 shares of the social networking company’s stock worth $775,039,000 after acquiring an additional 39,663 shares during the period. Columbus Hill Capital Management L.P. lifted its position in Meta Platforms by 233.8% during the 2nd quarter. Columbus Hill Capital Management L.P. now owns 53,850 shares of the social networking company’s stock worth $27,152,000 after acquiring an additional 37,718 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in Meta Platforms by 5.9% during the second quarter. Pacer Advisors Inc. now owns 265,756 shares of the social networking company’s stock valued at $133,999,000 after acquiring an additional 14,831 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on META shares. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Citigroup upped their price target on Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Robert W. Baird boosted their target price on shares of Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Piper Sandler increased their price target on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Two investment 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $577.26.

Meta Platforms Stock Performance

Shares of META stock opened at $561.35 on Monday. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $564.50. The company has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 32.24, a PEG ratio of 1.26 and a beta of 1.21. The company has a 50-day simple moving average of $507.58 and a 200 day simple moving average of $497.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last announced 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. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the firm earned $3.23 earnings per share. On average, sell-side analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95. Following the completion of the sale, the insider now owns 38,750 shares of the company’s stock, valued at $19,258,362.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95. Following the completion of the sale, the insider now owns 38,750 shares of the company’s stock, valued at approximately $19,258,362.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $520.57, for a total transaction of $214,995.41. Following the sale, the chief operating officer now owns 13,185 shares in the company, valued at approximately $6,863,715.45. 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. Company 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.