MGO One Seven LLC Purchases 391 Shares of Meta Platforms, Inc. (NASDAQ:META)

MGO One Seven LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,748 shares of the social networking company’s stock after purchasing an additional 391 shares during the quarter. Meta Platforms makes up approximately 0.6% of MGO One Seven LLC’s holdings, making the stock its 21st biggest holding. MGO One Seven LLC’s holdings in Meta Platforms were worth $13,487,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Baird Financial Group Inc. increased its holdings in Meta Platforms by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after purchasing an additional 163,067 shares during the last quarter. California State Teachers Retirement System grew its position in shares of Meta Platforms by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after buying an additional 51,900 shares during the period. Voyager Global Management LP increased its stake in shares of Meta Platforms by 37.3% in the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after acquiring an additional 140,000 shares during the last quarter. Gradient Investments LLC raised its position in shares of Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after acquiring an additional 5,953 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in Meta Platforms by 14.0% during the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after acquiring an additional 748,076 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the transaction, the chief executive officer now owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $502.00, for a total value of $206,824.00. Following the completion of the sale, the chief operating officer now owns 7,619 shares of the company’s stock, valued at $3,824,738. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 150 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the transaction, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. The disclosure for this sale can be found here. Insiders sold 357,574 shares of company stock worth $185,587,773 over the last three months. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

META has been the topic of several analyst reports. Tigress Financial increased their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Rosenblatt Securities lifted their target price on Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wolfe Research initiated coverage on Meta Platforms in a research note on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research report on Wednesday, June 12th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $577.26.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $524.62 on Friday. 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 company has a market capitalization of $1.33 trillion, a P/E ratio of 30.13, a P/E/G ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $544.23. The stock has a 50 day moving average of $505.13 and a 200-day moving average of $495.37.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data 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. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.23 earnings per share. As a group, equities research analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.38%. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.