LongView Wealth Management Sells 33 Shares of Meta Platforms, Inc. (NASDAQ:META)

LongView Wealth Management reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.9% during the second quarter, HoldingsChannel.com reports. The fund owned 1,729 shares of the social networking company’s stock after selling 33 shares during the quarter. LongView Wealth Management’s holdings in Meta Platforms were worth $872,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Tennessee Valley Asset Management Partners raised its stake in shares of Meta Platforms by 0.6% in the fourth quarter. Tennessee Valley Asset Management Partners now owns 4,566 shares of the social networking company’s stock valued at $1,616,000 after buying an additional 27 shares during the period. Lee Danner & Bass Inc. raised its stake in shares of Meta Platforms by 10.9% during the 4th quarter. Lee Danner & Bass Inc. now owns 25,283 shares of the social networking company’s stock valued at $8,949,000 after purchasing an additional 2,479 shares during the period. Elite Life Management LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at $292,000. Monument Capital Management bought a new stake in shares of Meta Platforms during the 4th quarter valued at $249,000. Finally, Townsend Asset Management Corp NC ADV bought a new stake in shares of Meta Platforms during the 4th quarter valued at $249,000. 79.91% of the stock is currently owned by institutional investors.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total value of $483,224.75. Following the transaction, the insider now directly owns 36,940 shares of the company’s stock, valued at approximately $19,724,113. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total transaction of $483,224.75. Following the sale, the insider now directly owns 36,940 shares of the company’s stock, valued at approximately $19,724,113. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. The disclosure for this sale can be found here. Insiders have sold a total of 384,783 shares of company stock valued at $194,001,589 in the last ninety days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.5 %

NASDAQ:META traded down $2.55 during trading hours on Tuesday, reaching $526.73. The company’s stock had a trading volume of 7,738,072 shares, compared to its average volume of 16,271,585. The stock has a 50 day moving average price of $501.01 and a two-hundred day moving average price of $489.45. The company has a market capitalization of $1.34 trillion, a P/E ratio of 30.38, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. Meta Platforms, Inc. has a 12 month low of $276.03 and a 12 month high of $542.81.

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

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. 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 research note on Thursday, August 1st. Raymond James boosted their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 1st. BMO Capital Markets restated a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research report on Wednesday, June 12th. Citigroup boosted their target price on Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Canaccord Genuity Group cut their price objective on Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $574.41.

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.