Meta Platforms, Inc. (NASDAQ:META) is Discovery Capital Management LLC CT’s 7th Largest Position

Discovery Capital Management LLC CT lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 693.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 63,500 shares of the social networking company’s stock after acquiring an additional 55,500 shares during the period. Meta Platforms makes up approximately 4.2% of Discovery Capital Management LLC CT’s investment portfolio, making the stock its 7th largest holding. Discovery Capital Management LLC CT’s holdings in Meta Platforms were worth $32,018,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of META. Delos Wealth Advisors LLC raised its stake in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. boosted its position in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Meta Platforms in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.5 %

META opened at $564.41 on Tuesday. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 32.42, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The company’s 50 day simple moving average is $507.58 and its two-hundred day simple moving average is $497.28. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $573.98. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last announced 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. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the business posted $3.23 earnings per share. The firm’s revenue was up 22.1% compared to the same quarter last year. Analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, insider Christopher K. Cox sold 20,000 shares of Meta Platforms stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the sale, the insider now owns 338,662 shares of the company’s stock, valued at approximately $188,810,838.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Christopher K. Cox sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the sale, the insider now directly owns 338,662 shares of the company’s stock, valued at approximately $188,810,838.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the completion of the transaction, the chief executive officer now directly owns 230,461 shares in the company, valued at approximately $117,737,915.68. The disclosure for this sale can be found here. Insiders have sold 365,761 shares of company stock worth $190,846,038 in the last ninety days. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. UBS Group boosted their target price on shares of Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. Robert W. Baird boosted their price objective on Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Finally, Raymond James raised their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $578.92.

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.