Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Allen Investment Management LLC

Allen Investment Management LLC lowered its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 72,160 shares of the social networking company’s stock after selling 7,189 shares during the period. Allen Investment Management LLC’s holdings in Meta Platforms were worth $36,385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. S.A. Mason LLC increased its position in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after buying an additional 20 shares during the period. Horizon Bancorp Inc. IN grew its position in shares of Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after acquiring an additional 21 shares during the last quarter. Northern Capital Management Inc. increased its holdings in shares of Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after acquiring an additional 21 shares during the period. Buckingham Capital Management Inc. lifted its position in Meta Platforms by 5.1% in the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after purchasing an additional 21 shares during the last quarter. Finally, LongView Wealth Management boosted its stake in Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after purchasing an additional 22 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $533.28 on Tuesday. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $544.23. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.35 trillion, a PE ratio of 30.63, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The business has a fifty day simple moving average of $505.21 and a 200-day simple moving average of $495.81.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company posted $3.23 EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be paid a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.38%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on META shares. Roth Mkm lifted their price target on Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wolfe Research initiated coverage on Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target for the company. UBS Group raised their price target on Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Barclays raised their target price on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $577.26.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total transaction of $459,405.15. Following the transaction, the insider now directly owns 37,817 shares in the company, valued at approximately $19,197,043.71. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the transaction, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $522.00, for a total value of $215,586.00. Following the completion of the transaction, the chief operating officer now directly owns 13,598 shares in the company, valued at $7,098,156. The disclosure for this sale can be found here. Insiders sold a total of 357,574 shares of company stock worth $185,587,773 in the last quarter. 13.71% of the stock is currently owned by corporate insiders.

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.