MRP Capital Investments LLC Sells 198 Shares of Meta Platforms, Inc. (NASDAQ:META)

MRP Capital Investments LLC trimmed its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,295 shares of the social networking company’s stock after selling 198 shares during the quarter. Meta Platforms accounts for about 2.5% of MRP Capital Investments LLC’s portfolio, making the stock its 8th biggest holding. MRP Capital Investments LLC’s holdings in Meta Platforms were worth $2,670,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Quest Partners LLC bought a new stake in Meta Platforms during the fourth quarter worth approximately $32,000. Clear Investment Research LLC increased its holdings in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares in the last quarter. Delos Wealth Advisors LLC lifted its position in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the 2nd quarter worth $38,000. Finally, Ruedi Wealth Management Inc. grew its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.4 %

Meta Platforms stock opened at $561.35 on Friday. The business’s 50-day simple moving average is $507.58 and its 200-day simple moving average is $497.22. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $564.50. The firm has a market capitalization of $1.42 trillion, a PE ratio of 32.24, a PEG ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) 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 analyst estimates of $38.26 billion. During the same quarter in the previous year, the firm posted $3.23 earnings per share. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. Equities research analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s payout ratio is presently 11.49%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Cantor Fitzgerald initiated coverage on Meta Platforms in a report on Thursday, September 5th. They set an “overweight” rating and a $660.00 target price for the company. Evercore ISI upped their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Sanford C. Bernstein lifted their target price on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. TD Securities upped their price target on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Finally, Rosenblatt Securities lifted their price objective on shares of Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $577.26.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total value of $486,636.60. Following the completion of the transaction, the insider now owns 36,912 shares of the company’s stock, valued at approximately $19,848,320.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total value of $486,636.60. Following the completion of the transaction, the insider now owns 36,912 shares in the company, valued at approximately $19,848,320.64. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Peggy Alford sold 1,052 shares of Meta Platforms stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $479.00, for a total transaction of $503,908.00. Following the sale, the director now owns 6,168 shares in the company, valued at $2,954,472. The disclosure for this sale can be found here. Insiders have sold a total of 356,426 shares of company stock valued at $185,053,425 over the last three months. 13.71% of the stock is owned by corporate 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.