1832 Asset Management L.P. Buys 318,761 Shares of Meta Platforms, Inc. $META

Key Points

• 1832 Asset Management L.P. increased its stake in Meta Platforms by 36.5% during Q1, owning 1,191,741 shares valued at approximately $686.87 million.
• Meta Platforms reported earnings of $7.14 per share, surpassing expectations, with revenue of $47.52 billion for the quarter.
• The company also announced a quarterly dividend of $0.525, translating to an annualized yield of 0.3%, paid to shareholders of record on June 16th.

1832 Asset Management L.P. increased its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 36.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,191,741 shares of the social networking company's stock after acquiring an additional 318,761 shares during the period. Meta Platforms makes up about 0.6% of 1832 Asset Management L.P.'s holdings, making the stock its 19th biggest position. 1832 Asset Management L.P.'s holdings in Meta Platforms were worth $686,872,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms during the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Meta Platforms in the first quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Meta Platforms in the first quarter worth approximately $33,000. Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms in the fourth quarter worth approximately $45,000. Finally, JCIC Asset Management Inc. grew its stake in shares of Meta Platforms by 102.6% in the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after acquiring an additional 40 shares during the period. Institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Piper Sandler upped their price target on shares of Meta Platforms from $808.00 to $880.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Cantor Fitzgerald reiterated an "overweight" rating and set a $920.00 price objective on shares of Meta Platforms in a research report on Wednesday, August 13th. KeyCorp raised their target price on shares of Meta Platforms from $800.00 to $905.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. UBS Group raised their target price on shares of Meta Platforms from $812.00 to $897.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Bank of America raised their price target on shares of Meta Platforms from $775.00 to $900.00 and gave the company a "buy" rating in a report 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $822.41.

Insider Buying and Selling at Meta Platforms

In related news, Director Robert M. Kimmitt sold 465 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $784.32, for a total value of $364,708.80. Following the completion of the sale, the director directly owned 8,877 shares of the company's stock, valued at approximately $6,962,408.64. This represents a 4.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 11,694 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $775.00, for a total value of $9,062,850.00. Following the completion of the transaction, the chief technology officer directly owned 1,799 shares in the company, valued at $1,394,225. The trade was a 86.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,803 shares of company stock worth $235,276,424. 13.61% of the stock is owned by insiders.

Meta Platforms Stock Up 2.1%

Shares of META traded up $15.69 during mid-day trading on Friday, hitting $754.79. 10,590,214 shares of the company's stock were exchanged, compared to its average volume of 13,655,942. The company has a market cap of $1.90 trillion, a price-to-earnings ratio of 27.33, a P/E/G ratio of 1.56 and a beta of 1.27. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. The stock's 50-day moving average is $730.31 and its 200-day moving average is $656.98.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, beating analysts' consensus estimates of $5.75 by $1.39. The company had revenue of $47.52 billion during the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%.Meta Platforms's quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the company earned $5.16 earnings per share. Meta Platforms has set its Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is presently 7.60%.

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.