Investidor Profissional Gestao de Recursos Ltda. Buys 17,481 Shares of Meta Platforms, Inc. (NASDAQ:META)

Investidor Profissional Gestao de Recursos Ltda. increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 104.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 34,255 shares of the social networking company’s stock after purchasing an additional 17,481 shares during the quarter. Meta Platforms makes up 7.6% of Investidor Profissional Gestao de Recursos Ltda.’s investment portfolio, making the stock its largest holding. Investidor Profissional Gestao de Recursos Ltda.’s holdings in Meta Platforms were worth $17,272,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in META. Vanguard Group Inc. increased its position in Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares during the period. Capital World Investors raised its holdings in Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after acquiring an additional 244,803 shares in the last quarter. Capital International Investors raised its holdings in Meta Platforms by 3.2% in the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after acquiring an additional 1,083,719 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. Finally, Sanders Capital LLC grew its holdings in shares of Meta Platforms by 2.4% during the 4th quarter. Sanders Capital LLC now owns 14,569,705 shares of the social networking company’s stock worth $5,157,093,000 after purchasing an additional 344,384 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.4 %

META opened at $561.35 on Monday. The stock has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 1.26 and a beta of 1.21. 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, Inc. has a twelve month low of $279.40 and a twelve month high of $564.50. The company has a 50-day simple moving average of $507.58 and a 200 day simple moving average of $497.27.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during 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 quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.23 EPS. Analysts predict that Meta Platforms, Inc. will post 21.36 EPS 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 dividend of $0.50 per share. 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 dividend payout ratio (DPR) is currently 11.49%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total value of $486,636.60. Following the sale, the insider now directly owns 36,912 shares of the company’s stock, valued at $19,848,320.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $520.57, for a total transaction of $214,995.41. Following the completion of the transaction, the chief operating officer now directly owns 13,185 shares in the company, valued at approximately $6,863,715.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’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 transaction of $486,636.60. Following the completion of the sale, the insider now owns 36,912 shares in the company, valued at approximately $19,848,320.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 346,666 shares of company stock valued at $180,145,414. Corporate insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the subject of a number of recent research reports. Morgan Stanley upped their target price on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. DA Davidson started coverage on shares of Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective for the company. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Loop Capital raised their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, Roth Mkm lifted their price objective on Meta Platforms from $510.00 to $550.00 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 given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company 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.