Kathmere Capital Management LLC Acquires 430 Shares of Meta Platforms, Inc. (NASDAQ:META)

Kathmere Capital Management LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 14.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,315 shares of the social networking company’s stock after acquiring an additional 430 shares during the period. Kathmere Capital Management LLC’s holdings in Meta Platforms were worth $1,672,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc increased its holdings in Meta Platforms by 18.5% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,409 shares of the social networking company’s stock worth $711,000 after acquiring an additional 220 shares during the period. Goodman Advisory Group LLC increased its holdings in shares of Meta Platforms by 23.7% in the second quarter. Goodman Advisory Group LLC now owns 3,701 shares of the social networking company’s stock worth $1,866,000 after purchasing an additional 709 shares during the period. Cim Investment Management Inc. raised its position in shares of Meta Platforms by 1.6% in the second quarter. Cim Investment Management Inc. now owns 8,869 shares of the social networking company’s stock worth $4,472,000 after buying an additional 140 shares in the last quarter. Oliver Lagore Vanvalin Investment Group boosted its stake in Meta Platforms by 15.8% during the second quarter. Oliver Lagore Vanvalin Investment Group now owns 6,891 shares of the social networking company’s stock valued at $3,475,000 after buying an additional 939 shares during the period. Finally, Ninepoint Partners LP bought a new stake in Meta Platforms during the second quarter valued at $93,000. 79.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

META has been the subject of a number of research analyst reports. Barclays lifted their price target on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Tigress Financial lifted their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Guggenheim increased their price target on shares of Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a report on Wednesday, June 12th. Finally, Susquehanna increased their target price on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Two investment 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 issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $591.23.

Insiders Place Their Bets

In other news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction 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 sale, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 10,000 shares of Meta Platforms stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $569.93, for a total transaction of $5,699,300.00. Following the transaction, the insider now owns 328,662 shares in the company, valued at approximately $187,314,333.66. The disclosure for this sale can be found here. Insiders sold a total of 342,358 shares of company stock worth $179,431,101 over the last quarter. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Stock Down 0.1 %

META stock opened at $567.36 on Friday. 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, Inc. has a 1-year low of $279.40 and a 1-year high of $577.40. The stock has a market capitalization of $1.44 trillion, a P/E ratio of 32.59, a P/E/G ratio of 1.39 and a beta of 1.21. The business has a fifty day moving average price of $516.19 and a 200-day moving average price of $499.60.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the prior year, the business earned $3.23 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

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.