Bright Rock Capital Management LLC Reduces Stock Position in Meta Platforms, Inc. $META

Key Points

• Bright Rock Capital Management LLC has sold 8,000 shares of Meta Platforms, Inc., reducing its holdings by 50%, leaving it with shares valued at approximately $5.9 million.
• Meta Platforms is set to pay a quarterly dividend of $0.525 per share to shareholders on record by September 22, 2023, which indicates a 0.3% yield.
• Recent earnings reported by Meta show an EPS of $7.14, exceeding estimates and showcasing a 21.6% year-over-year revenue growth.

Bright Rock Capital Management LLC decreased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 50.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,000 shares of the social networking company's stock after selling 8,000 shares during the quarter. Bright Rock Capital Management LLC's holdings in Meta Platforms were worth $5,905,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of META. Park Capital Management LLC WI raised its stake in shares of Meta Platforms by 7.7% in the second quarter. Park Capital Management LLC WI now owns 1,152 shares of the social networking company's stock valued at $850,000 after purchasing an additional 82 shares in the last quarter. Affiance Financial LLC lifted its stake in Meta Platforms by 0.6% in the 2nd quarter. Affiance Financial LLC now owns 4,654 shares of the social networking company's stock valued at $3,435,000 after acquiring an additional 30 shares in the last quarter. Vista Investment Partners LLC increased its holdings in shares of Meta Platforms by 5.1% during the 2nd quarter. Vista Investment Partners LLC now owns 1,112 shares of the social networking company's stock worth $821,000 after acquiring an additional 54 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new position in Meta Platforms in the 2nd quarter valued at $301,000. Finally, Cypress Point Wealth Management LLC lifted its position in shares of Meta Platforms by 43.6% during the 2nd quarter. Cypress Point Wealth Management LLC now owns 5,929 shares of the social networking company's stock valued at $4,376,000 after acquiring an additional 1,799 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $767.16, for a total value of $398,156.04. Following the transaction, the insider owned 30,870 shares of the company's stock, valued at $23,682,229.20. This represents a 1.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 517 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $757.47, for a total transaction of $391,611.99. Following the completion of the transaction, the chief operating officer owned 11,060 shares of the company's stock, valued at $8,377,618.20. This represents a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 256,886 shares of company stock valued at $195,693,600 over the last quarter. 13.61% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Scotiabank raised their target price on Meta Platforms from $675.00 to $685.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. increased their target price on Meta Platforms from $795.00 to $875.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Wedbush increased their target price on Meta Platforms from $750.00 to $920.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. JMP Securities raised their price objective on Meta Platforms from $750.00 to $900.00 and gave the company a "market outperform" rating in a research report on Thursday, July 31st. Finally, Bank of America raised their price target on Meta Platforms from $775.00 to $900.00 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $826.05.

Meta Platforms Stock Down 0.5%

NASDAQ:META traded down $3.92 during trading hours on Tuesday, reaching $761.24. The company's stock had a trading volume of 5,116,393 shares, compared to its average volume of 14,640,120. The stock has a 50 day moving average price of $747.94 and a two-hundred day moving average price of $667.24. The company has a market capitalization of $1.91 trillion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 1.62 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 12 month low of $479.80 and a 12 month high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.75 by $1.39. The firm had revenue of $47.52 billion for 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%.The firm's revenue was up 21.6% on a year-over-year basis. During the same period in the prior year, the firm earned $5.16 EPS. Meta Platforms has set its Q3 2025 guidance at EPS. Equities analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, September 22nd. Meta Platforms's 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.