Holderness Investments Co. Has $2.66 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Holderness Investments Co. grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,265 shares of the social networking company’s stock after purchasing an additional 171 shares during the quarter. Holderness Investments Co.’s holdings in Meta Platforms were worth $2,655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Circle Wealth Management LLC boosted its position in shares of Meta Platforms by 41.1% during the 2nd quarter. Circle Wealth Management LLC now owns 14,603 shares of the social networking company’s stock worth $7,363,000 after acquiring an additional 4,254 shares in the last quarter. Kowal Investment Group LLC lifted its holdings in shares of Meta Platforms by 14.6% during the second quarter. Kowal Investment Group LLC now owns 4,580 shares of the social networking company’s stock worth $2,310,000 after purchasing an additional 585 shares during the period. Evolutionary Tree Capital Management LLC grew its stake in shares of Meta Platforms by 19.0% in the second quarter. Evolutionary Tree Capital Management LLC now owns 6,391 shares of the social networking company’s stock worth $3,222,000 after purchasing an additional 1,022 shares during the last quarter. Merriman Wealth Management LLC increased its holdings in Meta Platforms by 9.7% in the second quarter. Merriman Wealth Management LLC now owns 2,844 shares of the social networking company’s stock valued at $1,434,000 after purchasing an additional 252 shares during the period. Finally, Symmetry Investments LP raised its position in Meta Platforms by 75.4% during the 2nd quarter. Symmetry Investments LP now owns 27,799 shares of the social networking company’s stock worth $14,017,000 after purchasing an additional 11,954 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now 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 can be accessed through this link. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the transaction, the insider now owns 338,662 shares of the company’s stock, valued at $188,810,838.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 365,761 shares of company stock valued at $190,846,038. 13.71% of the stock is owned by company insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $564.41 on Tuesday. The stock’s 50 day moving average price is $507.58 and its 200-day moving average price is $497.28. The company has a market capitalization of $1.43 trillion, a PE ratio of 32.42, a PEG 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 $573.98. 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 released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue for the quarter 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. On average, equities 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. Stockholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Oppenheimer upped their price target on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. UBS Group increased their target price on shares of Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Rosenblatt Securities boosted their price target on shares of Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Bank of America upped their price objective on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, KeyCorp lifted their target price on shares of Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $578.92.

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.