Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Park Place Capital Corp

Park Place Capital Corp lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,757 shares of the social networking company’s stock after acquiring an additional 39 shares during the period. Park Place Capital Corp’s holdings in Meta Platforms were worth $1,894,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Meta Platforms in the fourth quarter worth $11,285,855,000. International Assets Investment Management LLC lifted its stake in shares of Meta Platforms by 11,154.4% in the fourth quarter. International Assets Investment Management LLC now owns 4,952,254 shares of the social networking company’s stock worth $1,752,900,000 after buying an additional 4,908,251 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after buying an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management lifted its stake in shares of Meta Platforms by 111.0% in 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. Finally, Vanguard Group Inc. increased its position in Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after acquiring an additional 3,104,550 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the sale, the chief technology officer now directly owns 15,412 shares of the company’s stock, valued at approximately $7,272,152.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the sale, the director now directly owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The disclosure for this sale can be found here. Insiders have sold 310,685 shares of company stock worth $154,398,206 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 1.9 %

Shares of NASDAQ:META traded down $9.60 during mid-day trading on Friday, reaching $488.14. The stock had a trading volume of 24,044,658 shares, compared to its average volume of 17,151,374. The firm has a market cap of $1.24 trillion, a PE ratio of 28.04, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The firm has a 50 day simple moving average of $494.09 and a two-hundred day simple moving average of $479.87. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $542.81.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period last year, the company posted $3.23 EPS. On average, research analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.41%. Meta Platforms’s dividend payout ratio is 11.49%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Susquehanna boosted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday. Rosenblatt Securities boosted their target price on shares of Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley boosted their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday. Guggenheim boosted their target price on shares of Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Wedbush reaffirmed an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research report on Wednesday, July 24th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $571.84.

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.