Montis Financial LLC Acquires 46 Shares of Meta Platforms, Inc. (NASDAQ:META)

Montis Financial LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 703 shares of the social networking company’s stock after acquiring an additional 46 shares during the period. Montis Financial LLC’s holdings in Meta Platforms were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fortune Financial Advisors LLC lifted its position in shares of Meta Platforms by 4.8% during the 2nd quarter. Fortune Financial Advisors LLC now owns 3,829 shares of the social networking company’s stock valued at $1,931,000 after buying an additional 175 shares in the last quarter. American Century Companies Inc. lifted its holdings in Meta Platforms by 6.5% during the second quarter. American Century Companies Inc. now owns 6,124,058 shares of the social networking company’s stock valued at $3,087,873,000 after purchasing an additional 375,680 shares in the last quarter. Bahl & Gaynor Inc. boosted its position in shares of Meta Platforms by 17.1% in the second quarter. Bahl & Gaynor Inc. now owns 8,617 shares of the social networking company’s stock worth $4,345,000 after purchasing an additional 1,260 shares during the period. Hazlett Burt & Watson Inc. increased its stake in shares of Meta Platforms by 4.6% in the second quarter. Hazlett Burt & Watson Inc. now owns 1,455 shares of the social networking company’s stock worth $739,000 after purchasing an additional 64 shares in the last quarter. Finally, Mitchell Sinkler & Starr PA raised its position in shares of Meta Platforms by 1.2% during the 2nd quarter. Mitchell Sinkler & Starr PA now owns 3,660 shares of the social networking company’s stock valued at $1,742,000 after purchasing an additional 42 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on META. Deutsche Bank Aktiengesellschaft increased their price target on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. UBS Group increased their target price on Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Loop Capital boosted their price target on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Oppenheimer increased their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued 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 target price of $577.26.

Meta Platforms Stock Performance

META stock opened at $524.62 on Friday. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23. The firm has a market cap of $1.33 trillion, a price-to-earnings ratio of 30.13, a PEG ratio of 1.26 and a beta of 1.21. The business’s fifty day simple moving average is $505.13 and its two-hundred day simple moving average is $495.43. 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 (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate 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 was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.23 EPS. Analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be issued 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 0.38%. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,054 shares of Meta Platforms stock in a transaction on Friday, June 21st. The stock was sold at an average price of $501.05, for a total transaction of $1,029,156.70. Following the completion of the sale, the chief executive officer now directly owns 253,000 shares of the company’s stock, valued at approximately $126,765,650. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Mark Zuckerberg sold 2,054 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $501.05, for a total transaction of $1,029,156.70. Following the transaction, the chief executive officer now owns 253,000 shares in the company, valued at $126,765,650. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Javier Olivan sold 412 shares of the company’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $502.00, for a total transaction of $206,824.00. Following the completion of the sale, the chief operating officer now directly owns 7,619 shares of the company’s stock, valued at $3,824,738. 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 over the last quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms 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.