Meta Platforms, Inc. (NASDAQ:META) Holdings Lessened by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP reduced its stake in Meta Platforms, Inc. (NASDAQ:META) by 27.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 42,593 shares of the social networking company’s stock after selling 16,194 shares during the quarter. Meta Platforms accounts for 5.7% of DoubleLine ETF Adviser LP’s investment portfolio, making the stock its 2nd largest position. DoubleLine ETF Adviser LP’s holdings in Meta Platforms were worth $21,476,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Quest Partners LLC purchased a new stake in Meta Platforms during the fourth quarter worth about $32,000. Clear Investment Research LLC grew 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 purchasing an additional 74 shares in the last quarter. Delos Wealth Advisors LLC increased its stake in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the 2nd quarter worth approximately $38,000. Finally, Ruedi Wealth Management Inc. boosted its position in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $568.31 on Thursday. The firm has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 32.64, a price-to-earnings-growth ratio of 1.39 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. The business’s 50 day simple moving average is $512.54 and its 200-day simple moving average is $498.54. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $576.88.

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

Meta Platforms Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on META shares. Piper Sandler upped their price objective on Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Sanford C. Bernstein upped their price target on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Bank of America lifted their price objective on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wolfe Research began coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price on the stock. Finally, TD Cowen boosted their price objective on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Two investment 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 given a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $578.92.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $514.96, for a total value of $8,600,861.92. Following the transaction, the chief executive officer now owns 213,007 shares of the company’s stock, valued at $109,690,084.72. The disclosure for this sale can be found here. Insiders have sold 359,060 shares of company stock worth $188,031,963 in the last three months. Corporate insiders own 13.71% of the company’s stock.

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.