Seaview Investment Managers LLC Lowers Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Seaview Investment Managers LLC lowered its holdings in Meta Platforms, Inc. (NASDAQ:META) by 19.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,555 shares of the social networking company’s stock after selling 4,583 shares during the period. Meta Platforms makes up about 3.0% of Seaview Investment Managers LLC’s holdings, making the stock its 10th biggest position. Seaview Investment Managers LLC’s holdings in Meta Platforms were worth $9,860,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 2,054 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $501.05, for a total value of $1,029,156.70. Following the completion of the transaction, the chief executive officer now directly owns 253,000 shares in the company, valued at approximately $126,765,650. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Mark Zuckerberg sold 2,054 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $501.05, for a total transaction of $1,029,156.70. Following the sale, the chief executive officer now directly owns 253,000 shares of the company’s stock, valued at approximately $126,765,650. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the sale, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 357,574 shares of company stock worth $185,587,773. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. TD Securities boosted their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Barclays boosted their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Truist Financial boosted their price objective on shares of Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” 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 issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

Meta Platforms Stock Down 0.2 %

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. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $544.23. The firm has a market capitalization of $1.33 trillion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The firm has a fifty day simple moving average of $505.13 and a two-hundred day simple moving average of $495.37.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. 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 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities analysts expect that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed 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 of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.38%. Meta Platforms’s dividend payout ratio (DPR) 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.