Coldstream Capital Management Inc. Acquires 1,379 Shares of Meta Platforms, Inc. (NASDAQ:META)

Coldstream Capital Management Inc. boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.2% during the 2nd quarter, Holdings Channel reports. The fund owned 63,555 shares of the social networking company’s stock after buying an additional 1,379 shares during the period. Meta Platforms comprises about 0.8% of Coldstream Capital Management Inc.’s portfolio, making the stock its 22nd largest position. Coldstream Capital Management Inc.’s holdings in Meta Platforms were worth $32,046,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in Meta Platforms during the 4th quarter worth about $32,000. Clear Investment Research LLC grew its holdings in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Delos Wealth Advisors LLC boosted its holdings in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms in the 2nd quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. boosted its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Down 0.2 %

META stock opened at $524.62 on Friday. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $544.23. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.33 trillion, a P/E ratio of 30.13, a PEG ratio of 1.26 and a beta of 1.21. The company’s 50-day simple moving average is $505.13 and its 200-day simple moving average is $495.37.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.23 earnings per share. As a group, equities analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total value of $449,775.95. Following the transaction, the insider now directly owns 38,750 shares of the company’s stock, valued at approximately $19,258,362.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total value of $449,775.95. Following the transaction, the insider now directly owns 38,750 shares of the company’s stock, valued at approximately $19,258,362.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Peggy Alford sold 1,052 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $479.00, for a total transaction of $503,908.00. Following the completion of the transaction, the director now directly owns 6,168 shares in the company, valued at $2,954,472. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 357,574 shares of company stock worth $185,587,773. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Evercore ISI raised their price target 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. Truist Financial raised their price target on shares of Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on shares of Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Roth Mkm raised their price target on shares of Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Tigress Financial raised their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $577.26.

Meta Platforms 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.