Hill Island Financial LLC Takes $233,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Hill Island Financial LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 462 shares of the social networking company’s stock, valued at approximately $233,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vantage Financial Partners LLC increased its holdings in Meta Platforms by 3.2% during the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after buying an additional 41 shares during the last quarter. Concentrum Wealth Management grew its position in shares of Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares during the period. Aveo Capital Partners LLC increased its stake in shares of Meta Platforms by 45.7% during the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after purchasing an additional 722 shares during the last quarter. 9258 Wealth Management LLC raised its holdings in shares of Meta Platforms by 66.4% in the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock worth $1,413,000 after purchasing an additional 1,594 shares during the period. Finally, Rollins Financial lifted its stake in Meta Platforms by 7.5% in the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after purchasing an additional 2,133 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on META shares. TD Securities raised their target price on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Raymond James lifted their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday, July 1st. Loop Capital upped their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Susquehanna increased their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $577.26.

Meta Platforms Trading Up 3.9 %

NASDAQ META opened at $559.10 on Friday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock’s 50-day simple moving average is $505.40 and its two-hundred day simple moving average is $496.34. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $562.07. The company has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 32.11, a PEG ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.23 EPS. Research analysts forecast that Meta Platforms, Inc. will post 21.36 EPS 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 issued a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s payout ratio is 11.49%.

Insider Activity

In related news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms 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 owns 124,387 shares in the company, valued at approximately $62,254,449.63. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The disclosure for this sale can be found here. In the last 90 days, insiders sold 356,426 shares of company stock valued at $185,053,425. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.