Investidor Profissional Gestao de Recursos Ltda. Has $17.27 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Investidor Profissional Gestao de Recursos Ltda. boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 104.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,255 shares of the social networking company’s stock after acquiring an additional 17,481 shares during the quarter. Meta Platforms accounts for about 7.6% of Investidor Profissional Gestao de Recursos Ltda.’s portfolio, making the stock its largest position. Investidor Profissional Gestao de Recursos Ltda.’s holdings in Meta Platforms were worth $17,272,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans increased its stake in shares of Meta Platforms by 2.6% in the second quarter. Thrivent Financial for Lutherans now owns 1,537,107 shares of the social networking company’s stock valued at $775,039,000 after buying an additional 39,663 shares during the period. Columbus Hill Capital Management L.P. boosted its holdings in Meta Platforms by 233.8% in the second quarter. Columbus Hill Capital Management L.P. now owns 53,850 shares of the social networking company’s stock valued at $27,152,000 after acquiring an additional 37,718 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Meta Platforms by 5.9% in the second quarter. Pacer Advisors Inc. now owns 265,756 shares of the social networking company’s stock valued at $133,999,000 after acquiring an additional 14,831 shares during the last quarter. AE Wealth Management LLC increased its position in Meta Platforms by 12.3% during the 2nd quarter. AE Wealth Management LLC now owns 165,105 shares of the social networking company’s stock valued at $83,250,000 after purchasing an additional 18,130 shares during the period. Finally, King Luther Capital Management Corp raised its holdings in Meta Platforms by 68.5% during the 2nd quarter. King Luther Capital Management Corp now owns 99,633 shares of the social networking company’s stock worth $50,237,000 after purchasing an additional 40,504 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on META. Piper Sandler upped their price target on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Barclays upped their target price on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company raised their target price on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Citigroup boosted their price target on Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Sanford C. Bernstein raised their price objective on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $577.26.

Meta Platforms Stock Up 0.4 %

META stock opened at $561.35 on Monday. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $564.50. The stock has a market cap of $1.42 trillion, a P/E ratio of 32.24, a P/E/G ratio of 1.26 and a beta of 1.21. The stock’s fifty day simple moving average is $507.58 and its two-hundred day simple moving average is $497.27. 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 (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the previous year, the firm earned $3.23 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. Analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s payout ratio is currently 11.49%.

Insider Buying and Selling

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total transaction of $486,636.60. Following the sale, the insider now owns 36,912 shares of the company’s stock, valued at approximately $19,848,320.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 346,666 shares of company stock valued at $180,145,414. 13.71% of the stock is owned by company insiders.

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.