Tennessee Valley Asset Management Partners Raises Position in Meta Platforms, Inc. (NASDAQ:META)

Tennessee Valley Asset Management Partners lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,568 shares of the social networking company’s stock after acquiring an additional 143 shares during the period. Tennessee Valley Asset Management Partners’ holdings in Meta Platforms were worth $2,303,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95. Following the transaction, the insider now owns 38,750 shares of the company’s stock, valued at approximately $19,258,362.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $463.00, for a total transaction of $190,756.00. Following the transaction, the chief operating officer now directly owns 5,559 shares in the company, valued at $2,573,817. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95. Following the transaction, the insider now directly owns 38,750 shares in the company, valued at $19,258,362.50. The disclosure for this sale can be found here. Insiders have sold 357,987 shares of company stock worth $185,802,769 in the last ninety days. 13.71% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on META. Evercore ISI lifted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. UBS Group upped their price objective on Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wedbush reissued an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research note on Wednesday, July 24th. Roth Mkm increased their price objective on shares of Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their target price on shares of Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $577.26.

Meta Platforms Stock Up 0.6 %

NASDAQ:META opened at $536.32 on Wednesday. The company has a market cap of $1.36 trillion, a price-to-earnings ratio of 30.80, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $505.34 and a 200-day simple moving average of $496.05.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company 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 firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the business posted $3.23 EPS. Analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

The company 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. The ex-dividend date is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.37%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

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.