Kera Capital Partners Inc. raised its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 12.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,675 shares of the social networking company’s stock after purchasing an additional 182 shares during the quarter. Kera Capital Partners Inc.’s holdings in Meta Platforms were worth $1,236,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Inlight Wealth Management LLC purchased a new stake in Meta Platforms during the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Meta Platforms during the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Meta Platforms during the 1st quarter valued at $33,000. JCIC Asset Management Inc. boosted its position in Meta Platforms by 102.6% during the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company’s stock valued at $46,000 after buying an additional 40 shares during the period. Finally, Stuart Chaussee & Associates Inc. bought a new position in Meta Platforms in the 4th quarter worth $47,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms Stock Up 0.6%
NASDAQ:META opened at $755.59 on Friday. The firm has a market cap of $1.90 trillion, a P/E ratio of 27.36, a P/E/G ratio of 1.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The firm has a 50-day simple moving average of $741.83 and a two-hundred day simple moving average of $661.92.
Meta Platforms Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, September 22nd. Meta Platforms’s dividend payout ratio (DPR) is presently 7.60%.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Loop Capital restated a “buy” rating and issued a $980.00 price objective (up from $888.00) on shares of Meta Platforms in a report on Tuesday, August 5th. Bank of America upped their price objective on shares of Meta Platforms from $775.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Raymond James Financial upped their price objective on shares of Meta Platforms from $750.00 to $900.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 31st. Morgan Stanley upped their price objective on shares of Meta Platforms from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Finally, UBS Group increased their price target on shares of Meta Platforms from $812.00 to $897.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $822.41.
Read Our Latest Report on Meta Platforms
Insider Activity at Meta Platforms
In other news, CFO Susan J. Li sold 18,332 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $764.71, for a total transaction of $14,018,663.72. Following the sale, the chief financial officer owned 84,141 shares of the company’s stock, valued at $64,343,464.11. This trade represents a 17.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Andrew Bosworth sold 11,694 shares of the firm’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $775.00, for a total transaction of $9,062,850.00. Following the sale, the chief technology officer directly owned 1,799 shares in the company, valued at approximately $1,394,225. The trade was a 86.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 283,280 shares of company stock worth $214,119,908. 13.61% of the stock is owned by insiders.
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.
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