Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Decreased by Seven Mile Advisory

Seven Mile Advisory lowered its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 4,074 shares of the social networking company’s stock after selling 188 shares during the period. Meta Platforms accounts for approximately 1.5% of Seven Mile Advisory’s holdings, making the stock its 13th biggest holding. Seven Mile Advisory’s holdings in Meta Platforms were worth $2,054,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quest Partners LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $32,000. Clear Investment Research LLC grew its position in shares of Meta Platforms by 411.1% during 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 last quarter. Delos Wealth Advisors LLC grew its position in shares of Meta Platforms by 527.3% during 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 last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the 2nd quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. grew its position in shares of Meta Platforms by 122.2% during 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 last quarter. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent research reports. Cantor Fitzgerald initiated coverage on shares of Meta Platforms in a research report on Thursday, September 5th. They set an “overweight” rating and a $660.00 price objective for the company. Barclays boosted their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Bank of America boosted their price objective on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Rosenblatt Securities upped their target price on shares of Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Evercore ISI upped their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $577.26.

Meta Platforms Stock Up 0.6 %

META stock opened at $536.32 on Wednesday. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $544.23. The firm has a market cap of $1.36 trillion, a PE ratio of 30.80, a P/E/G ratio of 1.26 and a beta of 1.21. The firm has a 50 day simple moving average of $505.34 and a 200 day simple moving average of $496.05. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last released its 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. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.23 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares in the company, valued at approximately $6,315,852.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Mark Zuckerberg sold 2,054 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $501.05, for a total value of $1,029,156.70. Following the completion of the sale, the chief executive officer now owns 253,000 shares in the company, valued at approximately $126,765,650. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now 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 357,987 shares of company stock worth $185,802,769. 13.71% of the stock is 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.