Meta Platforms, Inc. $META Shares Bought by Perennial Advisors LLC

Key Points

• Perennial Advisors LLC increased its holdings in Meta Platforms, Inc. by 20.0% in Q2, owning 12,751 shares worth approximately $9.41 million.
• Analysts have raised their price targets for Meta, with Monness Crespi & Hardt setting it at $860.00, while Zacks Research downgraded the stock from a "strong-buy" to a "hold" rating.
• Meta Platforms recently announced a quarterly dividend of $0.525 per share, translating to an annualized dividend yield of 0.3%.

Perennial Advisors LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 20.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,751 shares of the social networking company's stock after buying an additional 2,127 shares during the period. Meta Platforms accounts for about 1.7% of Perennial Advisors LLC's holdings, making the stock its 17th largest holding. Perennial Advisors LLC's holdings in Meta Platforms were worth $9,411,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Inlight Wealth Management LLC acquired a new position in shares of Meta Platforms in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Meta Platforms in the first quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in Meta Platforms in the first quarter valued at $33,000. JCIC Asset Management Inc. grew its holdings in shares of Meta Platforms by 102.6% during the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock worth $46,000 after purchasing an additional 40 shares during the last quarter. Finally, Principia Wealth Advisory LLC increased its position in shares of Meta Platforms by 53.6% during the first quarter. Principia Wealth Advisory LLC now owns 86 shares of the social networking company's stock worth $50,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on META shares. Monness Crespi & Hardt raised their price target on Meta Platforms from $780.00 to $860.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. TD Cowen increased their price objective on Meta Platforms from $800.00 to $875.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Benchmark raised their target price on shares of Meta Platforms from $800.00 to $890.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Citigroup reiterated an "outperform" rating on shares of Meta Platforms in a research report on Thursday, July 31st. Finally, Zacks Research downgraded shares of Meta Platforms from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 19th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $826.05.

Insider Activity

In other Meta Platforms news, Director Robert M. Kimmitt sold 465 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $757.47, for a total value of $352,223.55. Following the completion of the sale, the director owned 8,412 shares of the company's stock, valued at approximately $6,371,837.64. This trade represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 517 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $781.33, for a total transaction of $403,947.61. Following the sale, the chief operating officer owned 10,543 shares in the company, valued at $8,237,562.19. The trade was a 4.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 229,819 shares of company stock valued at $176,241,968 in the last three months. 13.61% of the stock is currently owned by company insiders.

Meta Platforms Stock Down 0.7%

Shares of Meta Platforms stock opened at $743.75 on Monday. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. The company has a market cap of $1.87 trillion, a P/E ratio of 26.93, a PEG 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. The firm has a fifty day moving average of $751.74 and a two-hundred day moving average of $671.40.

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

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 22nd will be paid 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 is 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.

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.