Park Place Capital Corp Acquires 39 Shares of Meta Platforms, Inc. (NASDAQ:META)

Park Place Capital Corp raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,757 shares of the social networking company’s stock after purchasing an additional 39 shares during the period. Park Place Capital Corp’s holdings in Meta Platforms were worth $1,894,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Baird Financial Group Inc. increased its position in shares of Meta Platforms by 24.2% during the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after purchasing an additional 163,067 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Meta Platforms by 1.5% during the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after purchasing an additional 51,900 shares in the last quarter. Donoghue Forlines LLC increased its position in shares of Meta Platforms by 94.4% during the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock worth $2,955,000 after purchasing an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after buying an additional 32,423 shares during the last quarter. Finally, Voyager Global Management LP grew its holdings in shares of Meta Platforms by 37.3% during 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 buying an additional 140,000 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 576 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $466.33, for a total value of $268,606.08. Following the completion of the transaction, the insider now owns 36,067 shares of the company’s stock, valued at approximately $16,819,124.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $463.00, for a total value of $190,756.00. Following the sale, the chief operating officer now directly owns 5,559 shares in the company, valued at approximately $2,573,817. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 576 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $466.33, for a total transaction of $268,606.08. Following the completion of the sale, the insider now owns 36,067 shares in the company, valued at $16,819,124.11. The disclosure for this sale can be found here. Insiders sold 310,685 shares of company stock valued at $154,398,206 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on META. JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a report on Thursday. KeyCorp boosted their price objective on shares of Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday. Sanford C. Bernstein upped their price target on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. BMO Capital Markets reaffirmed a “market perform” rating and issued a $450.00 price target on shares of Meta Platforms in a report on Wednesday, June 12th. Finally, Stifel Nicolaus upped their price target on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $571.84.

Meta Platforms Trading Down 1.9 %

Shares of NASDAQ:META traded down $9.60 during mid-day trading on Friday, reaching $488.14. 24,044,658 shares of the company were exchanged, compared to its average volume of 17,151,374. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The firm has a market cap of $1.24 trillion, a price-to-earnings ratio of 28.04, a P/E/G ratio of 1.27 and a beta of 1.21. The firm’s 50-day simple moving average is $494.09 and its 200 day simple moving average is $479.87. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter last year, the company posted $3.23 EPS. Equities research analysts forecast that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.41%. Meta Platforms’s dividend payout ratio 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.