Meta Platforms, Inc. (NASDAQ:META) Stake Raised by SkyView Investment Advisors LLC

SkyView Investment Advisors LLC grew its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,333 shares of the social networking company’s stock after acquiring an additional 311 shares during the quarter. Meta Platforms accounts for 1.0% of SkyView Investment Advisors LLC’s portfolio, making the stock its 9th largest position. SkyView Investment Advisors LLC’s holdings in Meta Platforms were worth $5,715,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in META. Vanguard Group Inc. boosted its stake in shares of Meta Platforms by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Capital World Investors grew its stake in Meta Platforms by 0.6% in the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after acquiring an additional 244,803 shares during the period. Capital International Investors raised its holdings in Meta Platforms by 3.2% in the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after acquiring an additional 1,083,719 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on META shares. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Evercore ISI boosted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. JMP Securities upped their price target on shares of Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a research report on Thursday. Oppenheimer lifted their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Loop Capital upped their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Two 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus price target of $591.23.

Insiders Place Their Bets

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total transaction of $453,015.85. Following the sale, the insider now directly owns 37,845 shares of the company’s stock, valued at $18,944,071.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Meta Platforms news, insider Christopher K. Cox sold 10,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $569.93, for a total value of $5,699,300.00. Following the sale, the insider now directly owns 328,662 shares of the company’s stock, valued at $187,314,333.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total transaction of $453,015.85. Following the transaction, the insider now directly owns 37,845 shares of the company’s stock, valued at approximately $18,944,071.65. The disclosure for this sale can be found here. Insiders sold a total of 342,358 shares of company stock valued at $179,431,101 over the last 90 days. 13.71% of the stock is owned by company insiders.

Meta Platforms Trading Down 0.1 %

NASDAQ META opened at $567.36 on Friday. The company’s fifty day moving average price is $516.19 and its two-hundred day moving average price is $499.60. The company has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 32.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $577.40. 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 posted its quarterly earnings results 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. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same period last year, the firm earned $3.23 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, research analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid 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 (DPR) is presently 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.