Fairscale Capital LLC Makes New $1.30 Million Investment in Meta Platforms, Inc. (NASDAQ:META)

Fairscale Capital LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,648 shares of the social networking company’s stock, valued at approximately $1,297,000. Meta Platforms accounts for 1.1% of Fairscale Capital LLC’s holdings, making the stock its 22nd largest position.

Other large investors have also made changes to their positions in the company. Vantage Financial Partners LLC raised its holdings in Meta Platforms by 3.2% during the 4th 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 period. Concentrum Wealth Management increased its position in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after acquiring an additional 3,888,308 shares in the last quarter. Aveo Capital Partners LLC raised its holdings in shares of Meta Platforms by 45.7% during the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after acquiring an additional 722 shares during the period. 9258 Wealth Management LLC lifted its position in 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 valued at $1,413,000 after acquiring an additional 1,594 shares in the last quarter. Finally, Rollins Financial boosted its stake in Meta Platforms by 7.5% in the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock worth $10,851,000 after purchasing an additional 2,133 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.5 %

META stock opened at $564.41 on Tuesday. The business’s fifty day moving average price is $507.58 and its two-hundred day moving average price is $497.28. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 32.42, a PEG ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $573.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the company earned $3.23 EPS. The business’s revenue was up 22.1% on a year-over-year basis. On average, equities analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $500.57, for a total transaction of $453,015.85. Following the sale, the insider now directly owns 37,845 shares of the company’s stock, valued at approximately $18,944,071.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total transaction of $453,015.85. Following the sale, the insider now directly owns 37,845 shares in the company, valued at $18,944,071.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher K. Cox sold 20,000 shares of the business’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. Insiders have sold a total of 365,761 shares of company stock worth $190,846,038 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, September 4th. Wedbush reissued an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research report on Wednesday, July 24th. Jefferies Financial Group upped their price target on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JMP Securities reiterated a “market outperform” rating and issued a $525.00 price objective on shares of Meta Platforms in a report on Tuesday, July 30th. Finally, The Goldman Sachs Group boosted their price objective on shares of Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $578.92.

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.