Meta Platforms, Inc. (NASDAQ:META) Stake Reduced by Amalgamated Bank

Amalgamated Bank decreased its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 470,501 shares of the social networking company’s stock after selling 5,853 shares during the period. Meta Platforms makes up 2.0% of Amalgamated Bank’s portfolio, making the stock its 5th biggest position. Amalgamated Bank’s holdings in Meta Platforms were worth $237,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Quest Partners LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $32,000. Clear Investment Research LLC boosted its stake in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the period. Delos Wealth Advisors LLC grew its holdings in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in Meta Platforms during the 2nd quarter worth $38,000. Finally, Ruedi Wealth Management Inc. lifted 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 in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

META opened at $561.35 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $506.33 and its 200-day moving average is $496.78. The stock has a market cap of $1.42 trillion, a PE ratio of 32.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $564.50.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating 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 firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the previous year, the business earned $3.23 EPS. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be given a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total value of $486,636.60. Following the completion of the sale, the insider now directly owns 36,912 shares of the company’s stock, valued at approximately $19,848,320.64. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total transaction of $486,636.60. Following the transaction, the insider now directly owns 36,912 shares in the company, valued at approximately $19,848,320.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 412 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $463.00, for a total value of $190,756.00. Following the completion of the sale, the chief operating officer now owns 5,559 shares of the company’s stock, valued at approximately $2,573,817. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 356,426 shares of company stock valued at $185,053,425. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on META. Robert W. Baird raised their target price on Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. JMP Securities restated a “market outperform” rating and set a $525.00 price objective on shares of Meta Platforms in a report on Tuesday, July 30th. The Goldman Sachs Group upped their target price on Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Bank of America upped their price target on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating 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 assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $577.26.

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.