Montis Financial LLC Raises Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Montis Financial LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 7.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 703 shares of the social networking company’s stock after purchasing an additional 46 shares during the period. Montis Financial LLC’s holdings in Meta Platforms were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in META. S.A. Mason LLC raised its holdings in shares of Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after purchasing an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN grew its position 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 purchasing an additional 21 shares during the period. Northern Capital Management Inc. raised its stake in shares of Meta Platforms by 3.4% during 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 last quarter. Buckingham Capital Management Inc. lifted its holdings in shares of Meta Platforms by 5.1% in the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after buying an additional 21 shares during the period. Finally, LongView Wealth Management boosted its stake in shares of Meta Platforms by 1.3% in the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after buying an additional 22 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

Meta Platforms stock opened at $524.62 on Friday. The firm has a 50 day simple moving average of $505.13 and a 200-day simple moving average of $495.43. The stock has a market cap of $1.33 trillion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period in the prior year, the business posted $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. On average, analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be given a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. Meta Platforms’s payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on META. Jefferies Financial Group lifted their price target on Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wolfe Research began coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price for the company. Oppenheimer raised their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Wells Fargo & Company upped their price objective on shares of Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Citigroup increased their target price on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Mark Zuckerberg sold 2,054 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $501.05, for a total value of $1,029,156.70. Following the sale, the chief executive officer now owns 253,000 shares in the company, valued at approximately $126,765,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The disclosure for this sale can be found here. Insiders sold a total of 357,574 shares of company stock valued at $185,587,773 over the last 90 days. 13.71% of the stock is owned by company insiders.

Meta Platforms 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.