Riverstone Advisors LLC Has $515,000 Holdings in Meta Platforms, Inc. (NASDAQ:META)

Riverstone Advisors LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 27.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,022 shares of the social networking company’s stock after acquiring an additional 220 shares during the quarter. Meta Platforms comprises approximately 0.3% of Riverstone Advisors LLC’s holdings, making the stock its 28th largest holding. Riverstone Advisors LLC’s holdings in Meta Platforms were worth $515,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of META. 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 purchasing an additional 27 shares in the last quarter. Criterion Capital Advisors LLC bought a new position in shares of Meta Platforms during the 4th quarter worth about $45,000. Riggs Asset Managment Co. Inc. boosted its position in shares of Meta Platforms by 54,888.9% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 4,949 shares of the social networking company’s stock valued at $1,752,000 after acquiring an additional 4,940 shares in the last quarter. CWM LLC raised its position in Meta Platforms by 15.4% in the fourth quarter. CWM LLC now owns 221,238 shares of the social networking company’s stock worth $78,309,000 after purchasing an additional 29,465 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Meta Platforms by 8.5% during the fourth quarter. Handelsbanken Fonder AB now owns 750,373 shares of the social networking company’s stock worth $265,602,000 after purchasing an additional 58,650 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 2.2 %

Shares of Meta Platforms stock traded up $11.33 on Wednesday, hitting $538.06. 3,769,330 shares of the company’s stock traded hands, compared to its average volume of 16,195,212. Meta Platforms, Inc. has a one year low of $276.03 and a one year high of $542.81. 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 stock has a market capitalization of $1.36 trillion, a PE ratio of 30.25, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The firm’s 50-day moving average price is $501.40 and its two-hundred day moving average price is $489.81.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data 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. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the prior year, the company posted $3.23 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. On average, research analysts expect that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.37%. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $476.69, for a total value of $431,404.45. Following the completion of the sale, the insider now owns 42,370 shares of the company’s stock, valued at $20,197,355.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the transaction, the chief executive officer now directly owns 318,932 shares in the company, valued at approximately $159,759,417.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $476.69, for a total value of $431,404.45. Following the completion of the transaction, the insider now owns 42,370 shares of the company’s stock, valued at $20,197,355.30. The disclosure for this sale can be found here. Insiders have sold 384,783 shares of company stock valued at $194,001,589 in the last 90 days. 13.71% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

META has been the subject of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a report on Thursday, August 1st. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a report on Wednesday, June 12th. Wells Fargo & Company boosted their target price on shares of Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Citigroup increased their target price on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.