Doheny Asset Management CA Raises Holdings in Meta Platforms, Inc. (NASDAQ:META)

Doheny Asset Management CA increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 20.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,276 shares of the social networking company’s stock after purchasing an additional 215 shares during the quarter. Doheny Asset Management CA’s holdings in Meta Platforms were worth $643,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Vantage Financial Partners LLC boosted its stake in Meta Platforms by 3.2% during the fourth 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 last quarter. Concentrum Wealth Management boosted its stake in 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 buying an additional 3,888,308 shares during the last quarter. Aveo Capital Partners LLC boosted its stake in 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 buying an additional 722 shares during the last quarter. 9258 Wealth Management LLC boosted its stake in Meta Platforms by 66.4% during the fourth quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock worth $1,413,000 after buying an additional 1,594 shares during the last quarter. Finally, Rollins Financial boosted its stake in Meta Platforms by 7.5% during the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock worth $10,851,000 after buying an additional 2,133 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $500.57, for a total value of $453,015.85. Following the completion of the sale, the insider now directly owns 37,845 shares of the company’s stock, valued at approximately $18,944,071.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Christopher K. Cox sold 10,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $569.93, for a total value of $5,699,300.00. Following the completion of the sale, the insider now directly owns 328,662 shares of the company’s stock, valued at approximately $187,314,333.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total value of $453,015.85. Following the completion of the sale, the insider now directly owns 37,845 shares of the company’s stock, valued at $18,944,071.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 342,358 shares of company stock worth $179,431,101. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Down 0.1 %

META opened at $567.36 on Friday. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $577.40. The company has a market cap of $1.44 trillion, a P/E ratio of 32.59, a PEG ratio of 1.39 and a beta of 1.21. 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 business’s 50-day simple moving average is $516.19 and its 200-day simple moving average is $499.60.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data 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. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the prior year, the business posted $3.23 EPS. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities research analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on META shares. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 12th. Morgan Stanley upped their price target on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Jefferies Financial Group upped their price target on Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wolfe Research assumed coverage on Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target on the stock. Finally, The Goldman Sachs Group upped their price target on Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $591.23.

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.