Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Farley Capital L.P.

Farley Capital L.P. reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 14,073 shares of the social networking company’s stock after selling 800 shares during the quarter. Meta Platforms makes up about 6.3% of Farley Capital L.P.’s holdings, making the stock its 5th largest position. Farley Capital L.P.’s holdings in Meta Platforms were worth $7,096,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at about $32,000. Clear Investment Research LLC boosted its holdings in shares of Meta Platforms by 411.1% in the 4th 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 during the period. Delos Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. boosted 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 valued at $40,000 after buying an additional 44 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of Meta Platforms stock opened at $504.79 on Wednesday. The stock has a 50-day moving average price of $505.09 and a 200 day moving average price of $494.74. The company has a market cap of $1.28 trillion, a P/E ratio of 28.99, a P/E/G ratio of 1.23 and a beta of 1.21. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year 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. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.23 EPS. As a group, analysts expect 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 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 yield of 0.40%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 150 shares of the firm’s 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 of the company’s stock, valued at approximately $62,254,449.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Mark Zuckerberg sold 150 shares of the firm’s 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 of the company’s stock, valued at approximately $62,254,449.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $505.75, for a total value of $208,369.00. Following the sale, the chief operating officer now directly owns 8,031 shares of the company’s stock, valued at $4,061,678.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 373,783 shares of company stock valued at $193,743,522. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Susquehanna lifted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Citigroup lifted their price objective on shares of Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley lifted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. TD Securities lifted their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Finally, The Goldman Sachs Group lifted their price objective on shares of Meta Platforms from $522.00 to $555.00 and gave the company 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $577.26.

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.