Meta Platforms, Inc. $META Holdings Boosted by MIG Capital LLC

MIG Capital LLC grew its stake in Meta Platforms, Inc. (NASDAQ:META) by 8.0% during the 2nd quarter, Holdings Channel reports. The firm owned 79,453 shares of the social networking company’s stock after purchasing an additional 5,896 shares during the quarter. Meta Platforms makes up approximately 6.1% of MIG Capital LLC’s investment portfolio, making the stock its 5th largest position. MIG Capital LLC’s holdings in Meta Platforms were worth $58,643,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC increased its stake in Meta Platforms by 608,429.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock worth $44,119,937,000 after buying an additional 59,766,000 shares in the last quarter. Laurel Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 73,443.1% in the second quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company’s stock worth $6,212,506,000 after acquiring an additional 8,405,558 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Meta Platforms during the first quarter worth approximately $2,990,544,000. Vanguard Group Inc. raised its stake in Meta Platforms by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock valued at $142,149,566,000 after purchasing an additional 1,532,568 shares during the last quarter. Finally, Amundi lifted its holdings in Meta Platforms by 23.5% in the 1st quarter. Amundi now owns 7,733,061 shares of the social networking company’s stock valued at $4,111,050,000 after purchasing an additional 1,470,070 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on META. Oppenheimer lowered shares of Meta Platforms from an “outperform” rating to a “market perform” rating in a report on Thursday, October 30th. Benchmark lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a research report on Thursday, October 30th. DA Davidson set a $825.00 price objective on shares of Meta Platforms in a report on Thursday, October 30th. Piper Sandler lowered their target price on Meta Platforms from $880.00 to $840.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Finally, Arete upgraded Meta Platforms from a “neutral” rating to a “buy” rating and set a $718.00 price target for the company in a research report on Thursday. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $819.43.

Meta Platforms Trading Up 3.4%

META opened at $661.53 on Friday. The stock has a market capitalization of $1.67 trillion, a PE ratio of 29.22, a P/E/G ratio of 1.34 and a beta of 1.28. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. The business’s 50 day moving average price is $674.56 and its 200 day moving average price is $705.81.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating analysts’ consensus estimates of $6.74 by $0.51. The company had revenue of $51.24 billion for the quarter, compared to the consensus estimate of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.03 earnings per share. As a group, equities research analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Shareholders of record on Monday, December 15th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms’s dividend payout ratio (DPR) is 9.28%.

Insider Buying and Selling at Meta Platforms

In other news, insider Jennifer Newstead sold 519 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $642.22, for a total value of $333,312.18. Following the transaction, the insider directly owned 30,734 shares in the company, valued at approximately $19,737,989.48. This represents a 1.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert M. Kimmitt sold 600 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $609.35, for a total transaction of $365,610.00. Following the transaction, the director directly owned 7,347 shares of the company’s stock, valued at $4,476,894.45. The trade was a 7.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 41,959 shares of company stock valued at $26,671,107. 13.61% of the stock is currently owned by company insiders.

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.