Maxi Investments CY Ltd Has $17.31 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Key Points

• Maxi Investments CY Ltd reduced its stake in Meta Platforms by 22.5%, now holding approximately $17.3 million worth of shares, which constitutes 3.4% of its portfolio.
• Meta Platforms reported a quarterly earnings of $7.14 EPS, exceeding estimates, with a revenue increase of 21.6% year-over-year to $47.52 billion.
• Institutional investors hold 79.91% of Meta's stock, and recent analyst ratings have seen an upward trend, with several price targets revised to values as high as $920.

Maxi Investments CY Ltd lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 22.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,041 shares of the social networking company's stock after selling 8,726 shares during the quarter. Meta Platforms makes up about 3.4% of Maxi Investments CY Ltd's portfolio, making the stock its 6th biggest position. Maxi Investments CY Ltd's holdings in Meta Platforms were worth $17,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. McClarren Financial Advisors Inc. boosted its holdings in shares of Meta Platforms by 155.8% in the 1st quarter. McClarren Financial Advisors Inc. now owns 811 shares of the social networking company's stock valued at $467,000 after buying an additional 494 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its position in Meta Platforms by 48.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 4,125 shares of the social networking company's stock valued at $2,377,000 after acquiring an additional 1,355 shares during the last quarter. Syntegra Private Wealth Group LLC boosted its stake in Meta Platforms by 14.5% in the first quarter. Syntegra Private Wealth Group LLC now owns 1,362 shares of the social networking company's stock valued at $785,000 after acquiring an additional 172 shares in the last quarter. Levin Capital Strategies L.P. boosted its stake in Meta Platforms by 49.7% in the first quarter. Levin Capital Strategies L.P. now owns 1,199 shares of the social networking company's stock valued at $691,000 after acquiring an additional 398 shares in the last quarter. Finally, Empower Advisory Group LLC grew its holdings in Meta Platforms by 1.7% in the first quarter. Empower Advisory Group LLC now owns 439,353 shares of the social networking company's stock worth $253,226,000 after purchasing an additional 7,231 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Trading Up 1.0%

META opened at $769.30 on Friday. The firm has a market capitalization of $1.93 trillion, a price-to-earnings ratio of 27.85, a price-to-earnings-growth ratio of 1.58 and a beta of 1.27. The company's 50 day simple moving average is $714.53 and its two-hundred day simple moving average is $651.01. Meta Platforms, Inc. has a 1-year low of $479.80 and a 1-year high of $784.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, beating the consensus estimate of $5.75 by $1.39. The firm had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The business's revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter last year, the firm earned $5.16 earnings per share. Analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared 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 of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms's payout ratio is presently 7.60%.

Wall Street Analyst Weigh In

Several analysts have recently commented on META shares. Cantor Fitzgerald increased their price objective on Meta Platforms from $828.00 to $920.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. TD Cowen increased their price target on Meta Platforms from $800.00 to $875.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Guggenheim reissued a "buy" rating and issued a $800.00 price target (up previously from $725.00) on shares of Meta Platforms in a report on Monday, July 28th. Wedbush upped their price objective on shares of Meta Platforms from $750.00 to $920.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Finally, Hsbc Global Res upgraded shares of Meta Platforms from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and a consensus price target of $822.41.

Insider Activity

In related news, CEO Mark Zuckerberg sold 15,847 shares of the firm's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $753.43, for a total transaction of $11,939,605.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the completion of the transaction, the chief technology officer owned 1,183 shares in the company, valued at $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,024 shares of company stock valued at $199,983,159. 13.61% of the stock is currently 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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