Matrix Private Capital Group LLC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Matrix Private Capital Group LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 407 shares of the social networking company’s stock, valued at approximately $205,000.

A number of other hedge funds also recently made changes to their positions in META. Vantage Financial Partners LLC raised its holdings in shares of Meta Platforms by 3.2% during the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after buying an additional 41 shares during the last quarter. Concentrum Wealth Management raised its holdings in shares of Meta Platforms by 111.0% during 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 buying an additional 3,888,308 shares during the last quarter. Aveo Capital Partners LLC raised its holdings in Meta Platforms by 45.7% during the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after purchasing an additional 722 shares in the last quarter. 9258 Wealth Management LLC raised its holdings in Meta Platforms by 66.4% during the fourth quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock worth $1,413,000 after purchasing an additional 1,594 shares in the last quarter. Finally, Rollins Financial raised its holdings in Meta Platforms by 7.5% during the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock worth $10,851,000 after purchasing an additional 2,133 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on META shares. Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Bank of America boosted their target price on Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $660.00 target price on shares of Meta Platforms in a report on Monday. DA Davidson started coverage on Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 target price on the stock. Finally, KeyCorp boosted their target price on Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $591.23.

Meta Platforms Trading Down 0.1 %

Meta Platforms stock opened at $567.84 on Friday. The company’s fifty day simple moving average is $514.38 and its 200-day simple moving average is $499.02. 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 12 month low of $279.40 and a 12 month high of $577.40. The stock has a market cap of $1.44 trillion, a P/E ratio of 32.62, a P/E/G ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $3.23 EPS. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is presently 11.49%.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 342,358 shares of company stock valued at $179,431,101. 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.