Meta Platforms, Inc. (NASDAQ:META) Stock Position Lifted by Profund Advisors LLC

Profund Advisors LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,295 shares of the social networking company’s stock after acquiring an additional 211 shares during the quarter. Meta Platforms comprises 2.5% of Profund Advisors LLC’s holdings, making the stock its 6th biggest position. Profund Advisors LLC’s holdings in Meta Platforms were worth $68,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of Meta Platforms in the 4th quarter worth $32,000. Clear Investment Research LLC raised its stake in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Delos Wealth Advisors LLC boosted its holdings 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 acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the second quarter worth about $38,000. Finally, Ruedi Wealth Management Inc. increased its holdings 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 acquiring an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity

In related news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction that occurred 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 in the company, valued at $39,285,234.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Insiders sold 365,761 shares of company stock worth $190,846,038 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of a number of recent analyst reports. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Sanford C. Bernstein upped their target price on Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Barclays lifted their price target on Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a report on Wednesday, September 4th. Finally, Loop Capital lifted their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Two 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $578.92.

Meta Platforms Stock Up 0.5 %

Shares of META opened at $564.41 on Tuesday. The stock has a 50 day moving average price of $507.58 and a 200 day moving average price of $497.28. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $573.98. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. 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 (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates 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 company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.23 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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

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.