Ninepoint Partners LP Buys New Position in Meta Platforms, Inc. (NASDAQ:META)

Ninepoint Partners LP purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 185 shares of the social networking company’s stock, valued at approximately $93,000.

A number of other institutional investors also recently bought and sold shares of META. Delos Wealth Advisors LLC grew its holdings in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. increased its holdings in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares during the period. Richardson Financial Services Inc. raised its position in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after buying an additional 43 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Meta Platforms during the 4th quarter valued at approximately $32,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

NASDAQ:META opened at $567.36 on Friday. The company has a market capitalization of $1.44 trillion, a P/E ratio of 32.59, a P/E/G ratio of 1.39 and a beta of 1.21. 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 $577.40. The stock’s fifty day moving average is $516.19 and its two-hundred day moving average is $499.60.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping 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%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company posted $3.23 EPS. Equities analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on META. TD Cowen increased their price target on Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company boosted their target price on shares of Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler raised their price target on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Loop Capital lifted their price target on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Raymond James increased their price target on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $591.23.

Insider Buying and Selling

In other Meta Platforms news, insider Christopher K. Cox sold 10,000 shares of Meta Platforms stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $569.93, for a total value of $5,699,300.00. Following the completion of the transaction, the insider now directly owns 328,662 shares of the company’s stock, valued at approximately $187,314,333.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, insider Christopher K. Cox sold 10,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $569.93, for a total transaction of $5,699,300.00. Following the sale, the insider now directly owns 328,662 shares in the company, valued at approximately $187,314,333.66. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $503.08, for a total transaction of $8,402,442.16. Following the completion of the transaction, the chief executive officer now owns 204,280 shares of the company’s stock, valued at approximately $102,769,182.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 342,358 shares of company stock valued at $179,431,101. Corporate 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.