Wedge Capital Management L L P NC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,297 shares of the social networking company's stock after purchasing an additional 5,026 shares during the quarter. Meta Platforms comprises about 1.3% of Wedge Capital Management L L P NC's portfolio, making the stock its 2nd biggest position. Wedge Capital Management L L P NC's holdings in Meta Platforms were worth $71,814,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Inlight Wealth Management LLC bought a new stake in Meta Platforms during the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Meta Platforms during the 1st quarter valued at $28,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in Meta Platforms during the 1st quarter valued at $33,000. JCIC Asset Management Inc. boosted its position in shares of Meta Platforms by 102.6% in the 1st 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 in the last quarter. Finally, Principia Wealth Advisory LLC boosted its position in shares of Meta Platforms by 53.6% in the 1st 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. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Meta Platforms Stock Performance
NASDAQ:META opened at $765.16 on Tuesday. The firm has a market capitalization of $1.92 trillion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 1.62 and a beta of 1.24. The business's fifty day moving average price is $747.94 and its 200 day moving average price is $667.24. 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, 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 quarterly earnings data 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. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The company had revenue of $47.52 billion during the quarter, compared to the consensus estimate of $44.55 billion. During the same quarter in the prior year, the firm posted $5.16 earnings per share. Meta Platforms's revenue for the quarter was up 21.6% on a year-over-year basis. 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 Dividend Announcement
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. The ex-dividend date is Monday, September 22nd. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms's dividend payout ratio is 7.60%.
Analysts Set New Price Targets
A number of research firms have recently weighed in on META. Pivotal Research raised their price objective on Meta Platforms from $830.00 to $930.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Canaccord Genuity Group raised their price objective on Meta Platforms from $825.00 to $850.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Hsbc Global Res raised Meta Platforms from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 31st. Citigroup reissued an "outperform" rating on shares of Meta Platforms in a research report on Thursday, July 31st. Finally, BMO Capital Markets raised their price objective on Meta Platforms from $610.00 to $710.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and a consensus target price of $826.05.
Check Out Our Latest Analysis on Meta Platforms
Insider Transactions at Meta Platforms
In other news, insider Jennifer Newstead sold 519 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $767.16, for a total transaction of $398,156.04. Following the completion of the sale, the insider owned 30,870 shares in the company, valued at approximately $23,682,229.20. This represents a 1.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert M. Kimmitt sold 465 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $757.47, for a total transaction of $352,223.55. Following the sale, the director owned 8,412 shares of the company's stock, valued at $6,371,837.64. This trade represents a 5.24% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 256,886 shares of company stock worth $195,693,600. Company insiders own 13.61% of the company's stock.
Meta Platforms Profile
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Free Report)
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.
Further Reading
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).
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