Silver Lake Advisory LLC Takes $1.44 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Silver Lake Advisory LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,853 shares of the social networking company’s stock, valued at approximately $1,438,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Delos Wealth Advisors LLC increased its position in shares of Meta Platforms by 527.3% during the first 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 during the period. POM Investment Strategies LLC bought a new stake in Meta Platforms during the 2nd quarter valued at approximately $38,000. Ruedi Wealth Management Inc. boosted its position in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares in the last quarter. Richardson Financial Services Inc. grew its holdings in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Meta Platforms in the 4th quarter worth approximately $32,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on META. Oppenheimer increased their price objective on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Stifel Nicolaus lifted their price target on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. BMO Capital Markets restated a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a report on Wednesday, June 12th. TD Cowen lifted their target price on shares of Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Barclays upped their price target on Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $591.23.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total transaction of $453,015.85. Following the completion of the transaction, the insider now owns 37,845 shares in the company, valued at approximately $18,944,071.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $500.57, for a total value of $453,015.85. Following the completion of the transaction, the insider now owns 37,845 shares in the company, valued at approximately $18,944,071.65. The disclosure for this sale can be found here. Insiders have sold a total of 342,358 shares of company stock worth $179,431,101 over the last 90 days. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Trading Down 0.1 %

Meta Platforms stock opened at $567.36 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 firm has a market cap of $1.44 trillion, a PE ratio of 32.59, a P/E/G ratio of 1.39 and a beta of 1.21. The stock’s 50 day simple moving average is $516.19 and its two-hundred day simple moving average is $499.60. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $577.40.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion for 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 company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm earned $3.23 EPS. Analysts anticipate 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 was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is 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.