Sunpointe LLC Has $1.37 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Sunpointe LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.5% during the second quarter, HoldingsChannel.com reports. The firm owned 2,707 shares of the social networking company’s stock after acquiring an additional 235 shares during the quarter. Meta Platforms makes up about 0.9% of Sunpointe LLC’s holdings, making the stock its 23rd biggest holding. Sunpointe LLC’s holdings in Meta Platforms were worth $1,365,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. S.A. Mason LLC grew its holdings in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after purchasing an additional 20 shares during the period. Horizon Bancorp Inc. IN raised its position in Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after acquiring an additional 21 shares during the period. Northern Capital Management Inc. raised its position in Meta Platforms by 3.4% in the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after acquiring an additional 21 shares during the period. Buckingham Capital Management Inc. raised its position in Meta Platforms by 5.1% in the second quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after acquiring an additional 21 shares during the period. Finally, LongView Wealth Management raised its position in Meta Platforms by 1.3% in the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $529.09, for a total value of $8,836,861.18. Following the sale, the chief executive officer now directly owns 55,019 shares of the company’s stock, valued at approximately $29,110,002.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the sale, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $529.09, for a total transaction of $8,836,861.18. Following the completion of the sale, the chief executive officer now directly owns 55,019 shares in the company, valued at $29,110,002.71. 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 three months. 13.71% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on META shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. TD Securities lifted their target price on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Bank of America lifted their target price on shares of Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Wedbush reiterated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research note on Wednesday, July 24th. Finally, Canaccord Genuity Group reduced their target price on shares of Meta Platforms from $610.00 to $575.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $574.41.

Meta Platforms Trading Up 1.8 %

Meta Platforms stock traded up $9.42 during mid-day trading on Wednesday, reaching $536.15. 4,744,076 shares of the company traded hands, compared to its average volume of 16,201,267. 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’s 50 day moving average price is $501.40 and its 200 day moving average price is $489.81. The firm has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $276.03 and a 52-week high of $542.81.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating 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 net margin of 34.34% and a return on equity of 34.16%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.23 EPS. On average, analysts anticipate that Meta Platforms, Inc. will post 20.5 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

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