Dover Advisors LLC Invests $258,000 in Meta Platforms, Inc. (NASDAQ:META)

Dover Advisors LLC acquired 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 & Exchange Commission. The firm acquired 512 shares of the social networking company’s stock, valued at approximately $258,000.

A number of other large investors have also made changes to their positions in the stock. Baird Financial Group Inc. raised its holdings in Meta Platforms by 24.2% in the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after acquiring an additional 163,067 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Meta Platforms by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after purchasing an additional 51,900 shares during the period. Donoghue Forlines LLC increased its stake in Meta Platforms by 94.4% in the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after purchasing an additional 4,054 shares during the last quarter. Voyager Global Management LP lifted its position in Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after buying an additional 140,000 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. boosted its stake in Meta Platforms by 400.0% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock worth $885,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Susan J. Li sold 33,018 shares of the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at approximately $62,254,449.63. The disclosure for this sale can be found here. Insiders sold a total of 392,082 shares of company stock valued at $202,909,089 in the last quarter. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on META. Citigroup raised their target price on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a report on Thursday, August 1st. Wells Fargo & Company upped their price objective on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Loop Capital lifted their target price on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Bank of America upped their price target on Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two investment 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $574.41.

Meta Platforms Trading Down 1.8 %

NASDAQ:META opened at $511.76 on Wednesday. The company has a market cap of $1.30 trillion, a PE ratio of 29.39, a P/E/G ratio of 1.29 and a beta of 1.21. The business’s 50 day moving average is $505.32 and its two-hundred day moving average is $493.64. 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 52 week low of $279.40 and a 52 week high of $544.23.

Meta Platforms (NASDAQ:META) last announced 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. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the business posted $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. On average, analysts predict that Meta Platforms, Inc. will post 21.3 EPS for the current year.

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.