Highview Capital Management LLC DE Purchases 220 Shares of Meta Platforms, Inc. (NASDAQ:META)

Highview Capital Management LLC DE lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 4.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,745 shares of the social networking company’s stock after purchasing an additional 220 shares during the quarter. Meta Platforms accounts for about 1.2% of Highview Capital Management LLC DE’s holdings, making the stock its 22nd largest holding. Highview Capital Management LLC DE’s holdings in Meta Platforms were worth $2,897,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of META. Norges Bank bought a new stake in Meta Platforms in the 4th quarter worth $11,285,855,000. Capital Research Global Investors raised its holdings in shares of Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after acquiring an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management lifted its stake 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 worth $2,616,000 after acquiring an additional 3,888,308 shares during the period. Vanguard Group Inc. increased its position in Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after purchasing an additional 3,104,550 shares during the period. Finally, Jennison Associates LLC raised its holdings in Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Up 0.6 %

Shares of META stock opened at $521.31 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The company has a market cap of $1.32 trillion, a price-to-earnings ratio of 29.94, a PEG ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23. The firm has a fifty day moving average price of $504.85 and a 200-day moving average price of $492.74.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating 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 business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the company posted $3.23 earnings per share. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities analysts predict that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the transaction, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the transaction, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 388,078 shares of company stock worth $200,792,168. 13.71% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on META. Tigress Financial increased their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Evercore ISI increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Bank of America upped their target price on shares of Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wolfe Research started coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price objective on the stock. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research note on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $574.41.

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.