Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Biltmore Family Office LLC

Biltmore Family Office LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,945 shares of the social networking company’s stock after purchasing an additional 52 shares during the quarter. Biltmore Family Office LLC’s holdings in Meta Platforms were worth $1,485,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Delos Wealth Advisors LLC boosted its position 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 acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the second quarter worth approximately $38,000. Ruedi Wealth Management Inc. boosted its position 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 acquiring an additional 44 shares during the last quarter. Richardson Financial Services Inc. boosted its position in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Meta Platforms during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the transaction, the insider now directly owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the transaction, the insider now directly owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 2,054 shares of Meta Platforms stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $501.05, for a total transaction of $1,029,156.70. Following the completion of the transaction, the chief executive officer now directly owns 253,000 shares of the company’s stock, valued at $126,765,650. The disclosure for this sale can be found here. In the last three months, insiders sold 357,574 shares of company stock valued at $185,587,773. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of META stock opened at $524.62 on Friday. The firm has a market cap of $1.33 trillion, a P/E ratio of 30.13, a P/E/G ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23. The firm has a fifty day moving average of $505.13 and a two-hundred day moving average of $495.43.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the business earned $3.23 EPS. As a group, research analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on META shares. Citigroup raised their target price on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Rosenblatt Securities increased their price target on shares of Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Roth Mkm increased their price target on shares of Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. DA Davidson initiated coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target on the stock. Finally, The Goldman Sachs Group increased their price target on shares of Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given 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 company has a consensus 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.