Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Lifted by Anchor Investment Management LLC

Anchor Investment Management LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 0.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,112 shares of the social networking company’s stock after acquiring an additional 83 shares during the quarter. Meta Platforms makes up about 1.0% of Anchor Investment Management LLC’s holdings, making the stock its 20th biggest holding. Anchor Investment Management LLC’s holdings in Meta Platforms were worth $10,141,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after buying an additional 831,047 shares during the period. Capital World Investors lifted 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 in the last quarter. Capital Research Global Investors grew its stake in 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 valued at $16,799,612,000 after acquiring an additional 4,379,826 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Meta Platforms by 24.7% in 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 in the last quarter. Finally, GQG Partners LLC boosted its holdings in shares of Meta Platforms by 3.1% during the first quarter. GQG Partners LLC now owns 11,497,335 shares of the social networking company’s stock worth $5,582,876,000 after purchasing an additional 342,742 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $570.00, for a total transaction of $235,410.00. Following the completion of the sale, the chief operating officer now owns 12,359 shares of the company’s stock, valued at $7,044,630. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Meta Platforms news, insider Christopher K. Cox sold 10,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $569.93, for a total value of $5,699,300.00. Following the completion of the sale, the insider now owns 328,662 shares in the company, valued at approximately $187,314,333.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $570.00, for a total transaction of $235,410.00. Following the transaction, the chief operating officer now owns 12,359 shares in the company, valued at $7,044,630. The disclosure for this sale can be found here. Insiders have sold a total of 308,462 shares of company stock worth $162,308,065 over the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.6 %

META stock opened at $572.81 on Thursday. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $583.04. 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 business’s 50 day moving average is $521.88 and its 200-day moving average is $501.35. The firm has a market cap of $1.45 trillion, a P/E ratio of 32.90, a P/E/G ratio of 1.39 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results 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 firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.23 earnings per share. Equities analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 currently 11.49%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on META. DA Davidson assumed coverage on shares of Meta Platforms in a research note on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price objective on the stock. Benchmark reiterated a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday, June 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research note on Thursday, August 1st. Finally, Loop Capital boosted their price target on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $598.08.

Meta Platforms Company 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.