DSM Capital Partners LLC Purchases 27,794 Shares of Meta Platforms, Inc. (NASDAQ:META)

DSM Capital Partners LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 803,192 shares of the social networking company's stock after purchasing an additional 27,794 shares during the quarter. Meta Platforms makes up 8.1% of DSM Capital Partners LLC's holdings, making the stock its 4th biggest holding. DSM Capital Partners LLC's holdings in Meta Platforms were worth $462,927,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in META. Valley Financial Group Inc. lifted its stake in shares of Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after acquiring an additional 14 shares during the period. Lantern Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after acquiring an additional 14 shares during the period. ABLE Financial Group LLC lifted its stake in shares of Meta Platforms by 0.7% in the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after acquiring an additional 15 shares during the period. Mosaic Family Wealth Partners LLC lifted its stake in shares of Meta Platforms by 1.2% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company's stock worth $840,000 after acquiring an additional 17 shares during the period. Finally, Orin Green Financial LLC lifted its stake in shares of Meta Platforms by 2.2% in the fourth quarter. Orin Green Financial LLC now owns 795 shares of the social networking company's stock worth $465,000 after acquiring an additional 17 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $785.23 on Friday. The firm has a market capitalization of $1.97 trillion, a P/E ratio of 28.43, a P/E/G ratio of 1.63 and a beta of 1.27. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The stock's 50-day simple moving average is $724.43 and its two-hundred day simple moving average is $655.43. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. The business had revenue of $47.52 billion for the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The company's quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the prior year, the company earned $5.16 EPS. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms's dividend payout ratio is 7.60%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on META. Stifel Nicolaus lifted their price objective on Meta Platforms from $845.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. BMO Capital Markets lifted their target price on Meta Platforms from $610.00 to $710.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $920.00 target price on shares of Meta Platforms in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on Meta Platforms from $795.00 to $875.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Truist Financial lifted their target price on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and a consensus price target of $822.41.

Insider Activity

In other news, insider Christopher K. Cox sold 60,000 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the transaction, the insider directly owned 237,205 shares in the company, valued at approximately $184,059,219.75. This represents a 20.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 15,847 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $753.43, for a total value of $11,939,605.21. The disclosure for this sale can be found here. Insiders have sold a total of 269,243 shares of company stock worth $200,605,051 over the last quarter. Corporate insiders own 13.61% of the company's stock.

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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