Meta Platforms, Inc. (NASDAQ:META) is Belfer Management LLC’s 9th Largest Position

Belfer Management LLC cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 13.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 597 shares of the social networking company’s stock after selling 92 shares during the period. Meta Platforms comprises approximately 5.7% of Belfer Management LLC’s portfolio, making the stock its 9th largest position. Belfer Management LLC’s holdings in Meta Platforms were worth $301,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of META. Norges Bank purchased a new stake in Meta Platforms in the fourth quarter valued at $11,285,855,000. Capital Research Global Investors lifted its position in Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after acquiring an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management lifted its position in Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after acquiring an additional 3,888,308 shares during the last quarter. Vanguard Group Inc. lifted its position in Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after acquiring an additional 3,104,550 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in 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 valued at $6,733,731,000 after acquiring an additional 2,748,620 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Trading Down 0.2 %

Shares of META stock opened at $524.62 on Friday. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The stock has a market cap 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. The business has a fifty day simple moving average of $505.13 and a 200-day simple moving average of $495.37. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

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 business had revenue of $39.07 billion during 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 for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the business posted $3.23 earnings per share. On average, analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently weighed in on META. Evercore ISI boosted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Susquehanna lifted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. UBS Group lifted their price objective on shares of Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. TD Cowen lifted their price objective on shares of Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, KeyCorp lifted their price objective on shares of Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two equities research 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 company. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $577.26.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Meta Platforms news, COO Javier Olivan sold 413 shares of Meta Platforms stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $536.92, for a total value of $221,747.96. Following the completion of the sale, the chief operating officer now owns 14,424 shares in the company, valued at approximately $7,744,534.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 357,574 shares of company stock worth $185,587,773. 13.71% of the stock is owned by corporate insiders.

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.