Fidelis Capital Partners LLC Grows Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Fidelis Capital Partners LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 17.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,727 shares of the social networking company’s stock after purchasing an additional 2,992 shares during the period. Meta Platforms accounts for about 1.2% of Fidelis Capital Partners LLC’s portfolio, making the stock its 17th largest holding. Fidelis Capital Partners LLC’s holdings in Meta Platforms were worth $9,645,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Quest Partners LLC purchased a new stake in Meta Platforms in the 4th quarter valued at $32,000. Clear Investment Research LLC boosted its position in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Delos Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the second quarter worth about $38,000. Finally, Ruedi Wealth Management Inc. raised its stake in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Christopher K. Cox sold 20,000 shares of the 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 directly owns 338,662 shares of the company’s stock, valued at $188,810,838.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, 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 sale, the insider now owns 338,662 shares in the company, valued at approximately $188,810,838.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total transaction of $486,636.60. Following the completion of the transaction, the insider now owns 36,912 shares in the company, valued at $19,848,320.64. The disclosure for this sale can be found here. Insiders have sold 365,761 shares of company stock worth $190,846,038 in the last quarter. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Up 0.5 %

Shares of NASDAQ:META opened at $564.41 on Tuesday. The firm has a 50 day simple moving average of $507.58 and a 200-day simple moving average of $497.28. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $573.98. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $1.43 trillion, a PE ratio of 32.42, a P/E/G ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.23 earnings per share. On average, equities analysts predict 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 given a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analysts Set New Price Targets

Several research firms have recently weighed in on META. Susquehanna increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Sanford C. Bernstein raised their target price on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Bank of America increased their price target on Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Jefferies Financial Group boosted their price target on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Raymond James upped their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday, July 1st. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $578.92.

Meta Platforms Company 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.