Meta Platforms, Inc. (NASDAQ:META) is Beck Capital Management LLC’s 3rd Largest Position

Beck Capital Management LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,048 shares of the social networking company’s stock after acquiring an additional 658 shares during the quarter. Meta Platforms comprises 3.8% of Beck Capital Management LLC’s holdings, making the stock its 3rd largest holding. Beck Capital Management LLC’s holdings in Meta Platforms were worth $13,638,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new position in Meta Platforms during the fourth quarter worth about $32,000. Clear Investment Research LLC raised its position in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Delos Wealth Advisors LLC lifted its stake in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms during the second quarter worth $38,000. Finally, Ruedi Wealth Management Inc. grew its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the transaction, the chief executive officer now directly owns 124,387 shares in the company, valued at approximately $62,254,449.63. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 413 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $560.00, for a total value of $231,280.00. Following the completion of the transaction, the chief operating officer now owns 12,772 shares in the company, valued at approximately $7,152,320. The disclosure for this sale can be found here. In the last 90 days, insiders sold 349,472 shares of company stock worth $182,544,600. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META stock opened at $563.33 on Wednesday. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 32.36, a PEG ratio of 1.26 and a beta of 1.21. The company’s 50-day simple moving average is $510.42 and its 200-day simple moving average is $498.05. 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, Inc. has a one year low of $279.40 and a one year high of $573.98.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping 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 the consensus estimate of $38.26 billion. During the same period in the prior year, the business earned $3.23 EPS. The firm’s revenue was up 22.1% on a year-over-year basis. Equities analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wolfe Research started coverage on Meta Platforms in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. UBS Group upped their target price on shares of Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company boosted their price target on shares of Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Citigroup increased their price objective on Meta Platforms from $580.00 to $645.00 and gave the company a “buy” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $578.92.

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.