NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd Invests $4.10 Million in Meta Platforms, Inc. (NASDAQ:META)

NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,130 shares of the social networking company’s stock, valued at approximately $4,099,000. Meta Platforms accounts for about 17.7% of NEW THINKING HONG KONG INVESTMENT MANAGEMENT CO. Ltd’s investment portfolio, making the stock its 2nd biggest position.

A number of other hedge funds have also recently made changes to their positions in META. S.A. Mason LLC boosted its stake in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after acquiring an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock valued at $513,000 after purchasing an additional 21 shares during the period. Northern Capital Management Inc. increased its holdings in Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after buying an additional 21 shares during the period. Buckingham Capital Management Inc. increased its stake in shares of Meta Platforms by 5.1% in the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after acquiring an additional 21 shares during the period. Finally, LongView Wealth Management raised its holdings in shares of Meta Platforms by 1.3% during the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after purchasing an additional 22 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Down 1.8 %

Shares of NASDAQ META opened at $527.42 on Monday. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average of $500.48 and a 200 day moving average of $488.50. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81. The stock has a market cap of $1.34 trillion, a PE ratio of 30.29, a P/E/G ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) 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 business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period in the prior year, the business earned $3.23 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Ratings Changes

Several research firms have commented on META. UBS Group upped their price target on shares of Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Oppenheimer upped their target price on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Evercore ISI lifted their price target on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a report on Wednesday, July 24th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $574.41.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the completion of the sale, the chief executive officer now directly owns 72,473 shares in the company, valued at $38,302,705.23. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $528.51, for a total value of $8,827,174.02. Following the completion of the transaction, the chief executive officer now directly owns 72,473 shares in the company, valued at $38,302,705.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total value of $423,150.85. Following the completion of the sale, the insider now owns 43,275 shares in the company, valued at approximately $20,234,091.75. The disclosure for this sale can be found here. Insiders have sold a total of 349,174 shares of company stock worth $175,146,777 in the last quarter. Company insiders own 13.71% of the company’s stock.

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.