Riverview Capital Advisers LLC Acquires 66 Shares of Meta Platforms, Inc. (NASDAQ:META)

Riverview Capital Advisers LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 8.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 843 shares of the social networking company’s stock after acquiring an additional 66 shares during the period. Riverview Capital Advisers LLC’s holdings in Meta Platforms were worth $425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of Meta Platforms in the 4th quarter worth about $32,000. Clear Investment Research LLC raised its position in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares during the period. Delos Wealth Advisors LLC lifted its stake in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms during the second quarter valued at approximately $38,000. Finally, Ruedi Wealth Management Inc. grew its stake in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Mark Zuckerberg sold 9,760 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $502.87, for a total transaction of $4,908,011.20. Following the sale, the chief executive officer now directly owns 247,915 shares of the company’s stock, valued at $124,669,016.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 9,760 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $502.87, for a total value of $4,908,011.20. Following the sale, the chief executive officer now owns 247,915 shares in the company, valued at approximately $124,669,016.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The disclosure for this sale can be found here. Insiders sold a total of 356,426 shares of company stock valued at $185,053,425 in the last quarter. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Up 0.4 %

Meta Platforms stock opened at $561.35 on Friday. The stock has a 50-day moving average price of $507.58 and a 200 day moving average price of $497.22. The company has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $564.50. 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 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 business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.23 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current 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 given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Morgan Stanley boosted their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wolfe Research began coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target on the stock. The Goldman Sachs Group boosted their price objective on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. 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 stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target 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.