Meta Platforms, Inc. (NASDAQ:META) Shares Sold by HighVista Strategies LLC

HighVista Strategies LLC cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 8.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,090 shares of the social networking company’s stock after selling 400 shares during the period. HighVista Strategies LLC’s holdings in Meta Platforms were worth $2,062,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quest Partners LLC purchased a new stake in Meta Platforms during the fourth quarter worth approximately $32,000. Clear Investment Research LLC raised its holdings in Meta Platforms by 411.1% during the fourth 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 in the last quarter. Delos Wealth Advisors LLC lifted its position in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $38,000. Finally, Ruedi Wealth Management Inc. grew its position in shares of Meta Platforms by 122.2% in the 2nd 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 owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Meta Platforms stock opened at $564.41 on Tuesday. The stock’s fifty day moving average price is $507.58 and its two-hundred day moving average price is $497.28. The firm has a market cap of $1.43 trillion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. 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, Inc. has a one year low of $279.40 and a one year high of $573.98.

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. 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 the consensus estimate of $38.26 billion. During the same period in the previous year, the business earned $3.23 earnings per share. The company’s revenue was up 22.1% on a year-over-year basis. As a group, research analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on META. DA Davidson began coverage on Meta Platforms in a report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Barclays increased their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $525.00 price objective on shares of Meta Platforms in a research note on Tuesday, July 30th. Two research 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’s stock. According to data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $578.92.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the transaction, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now owns 33,324 shares in the company, valued at approximately $15,034,122.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 20,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 338,662 shares in the company, valued at approximately $188,810,838.24. The disclosure for this sale can be found here. Insiders sold a total of 365,761 shares of company stock valued at $190,846,038 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

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.