Meta Platforms, Inc. $META Stock Holdings Boosted by Stenger Family Office LLC

Stenger Family Office LLC increased its position in Meta Platforms, Inc. (NASDAQ:METAFree Report) by 8.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,349 shares of the social networking company’s stock after acquiring an additional 2,061 shares during the period. Meta Platforms makes up 2.4% of Stenger Family Office LLC’s portfolio, making the stock its 11th biggest position. Stenger Family Office LLC’s holdings in Meta Platforms were worth $15,406,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of META. RHL Group LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $28,000. Strategic Wealth Advisors LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth approximately $29,000. Niles Investment Management LLC bought a new position in Meta Platforms in the 4th quarter worth approximately $29,000. Axiom Investment Management LLC bought a new position in Meta Platforms in the 1st quarter worth approximately $36,000. Finally, Bayban increased its position in Meta Platforms by 100.0% in the 1st quarter. Bayban now owns 70 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 35 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

META has been the topic of several recent analyst reports. Cantor Fitzgerald cut their target price on Meta Platforms from $770.00 to $680.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Mizuho set a $750.00 price target on Meta Platforms in a report on Thursday, July 30th. Guggenheim restated a “buy” rating and set a $800.00 price objective on shares of Meta Platforms in a research note on Tuesday, July 28th. Rothschild & Co Redburn upped their price objective on shares of Meta Platforms from $900.00 to $1,000.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, The Goldman Sachs Group decreased their target price on shares of Meta Platforms from $815.00 to $725.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-five have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $785.32.

View Our Latest Stock Report on Meta Platforms

Insider Activity

In other news, COO Javier Olivan sold 1,258 shares of Meta Platforms stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $600.00, for a total value of $754,800.00. Following the transaction, the chief operating officer owned 1,517 shares of the company’s stock, valued at $910,200. The trade was a 45.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert M. Kimmitt sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $561.56, for a total transaction of $280,780.00. Following the completion of the sale, the director owned 2,943 shares in the company, valued at $1,652,671.08. The trade was a 14.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 38,407 shares of company stock worth $23,391,097. 13.53% of the stock is owned by company insiders.

Meta Platforms News Summary

Here are the key news stories impacting Meta Platforms this week:

Meta Platforms Stock Performance

META opened at $578.85 on Thursday. The business has a 50 day moving average price of $596.66 and a two-hundred day moving average price of $621.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.23 and a quick ratio of 2.23. The company has a market capitalization of $1.47 trillion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 1.02 and a beta of 1.25. Meta Platforms, Inc. has a 1-year low of $520.26 and a 1-year high of $796.25.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The social networking company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $7.19 by ($1.01). The firm had revenue of $60.80 billion during the quarter, compared to the consensus estimate of $60.22 billion. Meta Platforms had a return on equity of 33.18% and a net margin of 29.83%.The firm’s quarterly revenue was up 28.0% on a year-over-year basis. During the same period in the prior year, the firm posted $7.14 EPS. Research analysts predict that Meta Platforms, Inc. will post 28.5 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 15th. Meta Platforms’s payout ratio is presently 7.91%.

About Meta Platforms

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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