TCP Asset Management LLC Acquires Shares of 445 Meta Platforms, Inc. (NASDAQ:META)

TCP Asset Management LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 445 shares of the social networking company’s stock, valued at approximately $224,000.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after acquiring an additional 831,047 shares during the period. Capital World Investors grew its holdings in Meta Platforms by 0.6% during the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after acquiring an additional 244,803 shares during the period. Capital International Investors grew its holdings in Meta Platforms by 3.2% during the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after acquiring an additional 1,083,719 shares during the period. Capital Research Global Investors grew its holdings in Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. Finally, Norges Bank acquired a new position in Meta Platforms during the fourth quarter worth $11,285,855,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on META shares. Sanford C. Bernstein upped their price objective on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Robert W. Baird upped their target price on Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” 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. Barclays upped their target price on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, Susquehanna upped their target price on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have issued a buy rating and two have assigned 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 price target of $572.51.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the sale, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $467.57, for a total value of $423,150.85. Following the completion of the transaction, the insider now owns 43,275 shares of the company’s stock, valued at approximately $20,234,091.75. The disclosure for this sale can be found here. Insiders sold a total of 349,174 shares of company stock worth $175,146,777 in the last 90 days. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Up 1.9 %

Shares of NASDAQ:META traded up $9.85 during mid-day trading on Thursday, hitting $536.61. 10,366,104 shares of the company traded hands, compared to its average volume of 16,356,326. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The firm’s 50 day simple moving average is $498.92 and its 200 day simple moving average is $485.97. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. The firm has a market cap of $1.36 trillion, a P/E ratio of 30.92, a PEG ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $38.26 billion. During the same quarter last year, the firm earned $3.23 EPS. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. On average, equities analysts anticipate that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. Meta Platforms’s dividend payout ratio (DPR) is presently 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.