Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Element Capital Management LLC

Element Capital Management LLC lessened its position in Meta Platforms, Inc. (NASDAQ:META) by 61.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,063 shares of the social networking company’s stock after selling 6,378 shares during the period. Meta Platforms comprises 0.2% of Element Capital Management LLC’s portfolio, making the stock its 29th largest holding. Element Capital Management LLC’s holdings in Meta Platforms were worth $2,049,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vantage Financial Partners LLC grew its holdings in Meta Platforms by 3.2% in the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after purchasing an additional 41 shares during the period. Concentrum Wealth Management grew its holdings in 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 valued at $2,616,000 after purchasing an additional 3,888,308 shares during the period. Aveo Capital Partners LLC grew its holdings in Meta Platforms by 45.7% in the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock valued at $815,000 after purchasing an additional 722 shares during the period. 9258 Wealth Management LLC grew its holdings in Meta Platforms by 66.4% in the fourth quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock valued at $1,413,000 after purchasing an additional 1,594 shares during the period. Finally, Rollins Financial grew its holdings in Meta Platforms by 7.5% in the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after purchasing an additional 2,133 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the 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 owns 33,324 shares in the company, valued at approximately $15,034,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jennifer Newstead sold 901 shares of the 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 owns 33,324 shares in the company, valued at approximately $15,034,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $520.57, for a total transaction of $214,995.41. Following the completion of the transaction, the chief operating officer now owns 13,185 shares of the company’s stock, valued at approximately $6,863,715.45. The disclosure for this sale can be found here. Insiders sold 357,987 shares of company stock worth $185,802,769 in the last 90 days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.6 %

META stock opened at $536.32 on Wednesday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The firm’s 50-day simple moving average is $505.34 and its 200 day simple moving average is $496.05. The stock has a market cap of $1.36 trillion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the company earned $3.23 EPS. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, sell-side analysts predict 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. Investors 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 0.37%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Evercore ISI boosted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Bank of America boosted their price objective on shares of Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Guggenheim boosted their price objective on shares of Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Finally, DA Davidson assumed coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They set a “buy” rating and a $600.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $577.26.

About Meta Platforms

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.