First Foundation Advisors Has $11.18 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

First Foundation Advisors lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,171 shares of the social networking company’s stock after buying an additional 2,151 shares during the quarter. First Foundation Advisors’ holdings in Meta Platforms were worth $11,179,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. S.A. Mason LLC grew its holdings in shares of Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after buying an additional 21 shares during the last quarter. Northern Capital Management Inc. raised its position in shares of Meta Platforms by 3.4% during the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after buying an additional 21 shares in the last quarter. Buckingham Capital Management Inc. raised its position in shares of Meta Platforms by 5.1% during the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after buying an additional 21 shares in the last quarter. Finally, LongView Wealth Management lifted its holdings in shares of Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after acquiring an additional 22 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $536.92, for a total transaction of $221,747.96. Following the sale, the chief operating officer now owns 14,424 shares in the company, valued at approximately $7,744,534.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the completion of the sale, the chief operating officer now directly owns 14,424 shares in the company, valued at approximately $7,744,534.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares in the company, valued at approximately $6,315,852.40. The disclosure for this sale can be found here. Insiders have sold a total of 357,574 shares of company stock valued at $185,587,773 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 2.7 %

Meta Platforms stock opened at $525.60 on Friday. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23. The business has a fifty day moving average price of $505.44 and a 200-day moving average price of $495.07. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 30.19, a PEG ratio of 1.23 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the company earned $3.23 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. Equities research analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. Meta Platforms’s payout ratio is 11.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on META shares. Wolfe Research initiated coverage on Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price objective on the stock. TD Cowen boosted their price objective on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Loop Capital increased their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. DA Davidson initiated coverage on Meta Platforms in a research report on Tuesday. They set a “buy” rating and a $600.00 target price for the company. Finally, KeyCorp upped their price target on shares of Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

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.