Harel Insurance Investments & Financial Services Ltd. lessened its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 6.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,438 shares of the social networking company’s stock after selling 1,551 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Meta Platforms were worth $12,004,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in META. Dakota Wealth Management lifted its holdings in shares of Meta Platforms by 8.0% in the second quarter. Dakota Wealth Management now owns 95,713 shares of the social networking company’s stock valued at $48,260,000 after purchasing an additional 7,120 shares in the last quarter. Colonial River Wealth Management LLC raised its position in Meta Platforms by 8.3% in the 2nd quarter. Colonial River Wealth Management LLC now owns 6,254 shares of the social networking company’s stock valued at $3,153,000 after buying an additional 477 shares during the last quarter. Neo Ivy Capital Management bought a new stake in Meta Platforms in the 2nd quarter valued at approximately $6,024,000. First Citizens Bank & Trust Co. lifted its stake in Meta Platforms by 0.9% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 54,635 shares of the social networking company’s stock valued at $27,548,000 after acquiring an additional 486 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in Meta Platforms by 5.1% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 51,685 shares of the social networking company’s stock worth $26,061,000 after acquiring an additional 2,494 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently issued reports on META shares. Sanford C. Bernstein lifted their price objective on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Wolfe Research initiated coverage on shares of Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target on the stock. JMP Securities reissued a “market outperform” rating and set a $525.00 price target on shares of Meta Platforms in a research report on Tuesday, July 30th. Stifel Nicolaus raised their price objective on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Evercore ISI lifted their target price on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $574.41.
Get Our Latest Stock Analysis on Meta Platforms
Insiders Place Their Bets
In other news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $2,573,817. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 384,783 shares of company stock valued at $194,001,589. 13.71% of the stock is currently owned by corporate insiders.
Meta Platforms Price Performance
NASDAQ:META traded up $2.85 during mid-day trading on Wednesday, reaching $529.58. The stock had a trading volume of 826,787 shares, compared to its average volume of 16,176,936. Meta Platforms, Inc. has a 12 month low of $276.03 and a 12 month high of $542.81. The stock has a market capitalization of $1.34 trillion, a PE ratio of 30.25, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The stock has a 50-day simple moving average of $501.40 and a two-hundred day simple moving average of $489.81.
Meta Platforms (NASDAQ:META – Get Free Report) last issued its 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. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the business posted $3.23 EPS. The company’s revenue was up 22.1% compared to the same quarter last year. On average, equities analysts anticipate that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.
Meta Platforms Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio 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.
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