Meta Platforms, Inc. (NASDAQ:META) is DMC Group LLC’s 4th Largest Position

DMC Group LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 5,949 shares of the social networking company’s stock after purchasing an additional 612 shares during the period. Meta Platforms accounts for about 2.6% of DMC Group LLC’s investment portfolio, making the stock its 4th biggest holding. DMC Group LLC’s holdings in Meta Platforms were worth $3,000,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Meta Platforms in the 4th quarter valued at about $11,285,855,000. Capital Research Global Investors raised its holdings in shares of Meta Platforms by 17.2% in the 4th 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 purchasing an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management raised its stake 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 buying an additional 3,888,308 shares in the last quarter. Vanguard Group Inc. lifted its stake in Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings 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 purchasing an additional 2,748,620 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the transaction, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $513.09, for a total transaction of $8,569,629.18. Following the completion of the sale, the chief executive officer now directly owns 98,654 shares of the company’s stock, valued at $50,618,380.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 315,770 shares of company stock worth $157,719,910. Insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Susquehanna upped 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. Wells Fargo & Company raised their price objective on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a report on Wednesday, July 24th. Finally, Raymond James raised their price target on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $572.51.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $1.78 during trading on Wednesday, hitting $526.76. 10,770,526 shares of the stock were exchanged, compared to its average volume of 16,390,408. The company has a market cap of $1.34 trillion, a PE ratio of 30.35, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $498.29 and a two-hundred day moving average price of $485.68. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81.

Meta Platforms (NASDAQ:META) last posted its earnings results 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 company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the previous year, the business earned $3.23 earnings per share. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, analysts forecast that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.38%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Meta Platforms 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.