Arcadia Investment Management Corp MI Raises Position in Meta Platforms, Inc. (NASDAQ:META)

Arcadia Investment Management Corp MI boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 287.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 883 shares of the social networking company’s stock after buying an additional 655 shares during the period. Arcadia Investment Management Corp MI’s holdings in Meta Platforms were worth $445,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. S.A. Mason LLC boosted its stake in shares of Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares during the period. Horizon Bancorp Inc. IN lifted its holdings in Meta Platforms by 2.0% during the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after buying an additional 21 shares in the last quarter. Northern Capital Management Inc. boosted its position in Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after buying an additional 21 shares during the period. Buckingham Capital Management Inc. grew its stake in shares of Meta Platforms by 5.1% in the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after acquiring an additional 21 shares in the last quarter. Finally, LongView Wealth Management increased its position in shares of Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after acquiring an additional 22 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

META has been the subject of several analyst reports. Robert W. Baird boosted their target price on Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Cantor Fitzgerald assumed coverage on Meta Platforms in a research report on Thursday, September 5th. They set an “overweight” rating and a $660.00 price objective for the company. Wells Fargo & Company upped their target price on shares of Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Jefferies Financial Group lifted their price target on shares of Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, JMP Securities reissued a “market outperform” rating and issued a $525.00 price objective on shares of Meta Platforms in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $576.66.

Meta Platforms Trading Up 0.9 %

Shares of META stock opened at $504.79 on Tuesday. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $505.18 and its two-hundred day moving average is $494.59. The company has a market capitalization of $1.28 trillion, a P/E ratio of 28.99, a price-to-earnings-growth ratio of 1.23 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion for 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%. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.23 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.40%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the sale, the chief operating officer now owns 14,424 shares of the company’s stock, valued at $7,744,534.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The disclosure for this sale can be found here. Insiders sold a total of 373,370 shares of company stock worth $193,527,936 over the last 90 days. Company insiders own 13.71% of the company’s stock.

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.