Deepwater Asset Management LLC Sells 945 Shares of Meta Platforms, Inc. (NASDAQ:META)

Deepwater Asset Management LLC lessened its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 29,802 shares of the social networking company’s stock after selling 945 shares during the quarter. Meta Platforms comprises approximately 5.5% of Deepwater Asset Management LLC’s holdings, making the stock its 5th largest position. Deepwater Asset Management LLC’s holdings in Meta Platforms were worth $15,027,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vantage Financial Partners LLC increased its stake in Meta Platforms by 3.2% during 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 during the period. Concentrum Wealth Management increased its position in shares of Meta Platforms by 111.0% during 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 lifted its holdings in shares of 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 valued at $815,000 after buying an additional 722 shares during the period. 9258 Wealth Management LLC boosted 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 valued at $1,413,000 after buying an additional 1,594 shares in the last quarter. Finally, Rollins Financial grew 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 worth $10,851,000 after acquiring an additional 2,133 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total value of $11,150,400.00. Following the completion of the sale, the insider now owns 338,662 shares in the company, valued at approximately $188,810,838.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total value of $453,015.85. Following the sale, the insider now owns 37,845 shares of the company’s stock, valued at approximately $18,944,071.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher K. Cox sold 20,000 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the transaction, the insider now owns 338,662 shares of the company’s stock, valued at approximately $188,810,838.24. The disclosure for this sale can be found here. Insiders have sold a total of 365,761 shares of company stock valued at $190,846,038 over the last three months. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 0.5 %

Meta Platforms stock opened at $564.41 on Tuesday. The business’s 50-day simple moving average is $507.58 and its 200-day simple moving average is $497.28. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $573.98. The firm has a market capitalization of $1.43 trillion, a PE ratio of 32.42, a PEG ratio of 1.26 and a beta of 1.21. 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 released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.23 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The business 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 $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Monday, September 16th. Meta Platforms’s payout ratio is presently 11.49%.

Analyst Ratings Changes

Several brokerages have recently issued reports on META. KeyCorp lifted their price objective on shares of Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Oppenheimer lifted their target price on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Jefferies Financial Group upped their target price on Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company lifted their price target on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Rosenblatt Securities upped their price objective on shares of Meta Platforms from $562.00 to $643.00 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 assigned a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $578.92.

Meta Platforms 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.