Los Angeles Capital Management LLC Has $796.13 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Los Angeles Capital Management LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 13.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,381,312 shares of the social networking company's stock after purchasing an additional 166,789 shares during the period. Meta Platforms comprises 3.5% of Los Angeles Capital Management LLC's holdings, making the stock its 5th largest position. Los Angeles Capital Management LLC owned approximately 0.05% of Meta Platforms worth $796,133,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Inlight Wealth Management LLC purchased a new position in shares of Meta Platforms during the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Meta Platforms during the 1st quarter valued at $28,000. WealthTrak Capital Management LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Meta Platforms during the 4th quarter valued at $45,000. Finally, JCIC Asset Management Inc. lifted its position in shares of Meta Platforms by 102.6% during the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Analyst Upgrades and Downgrades

META has been the topic of a number of recent research reports. DA Davidson dropped their price target on Meta Platforms from $800.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Pivotal Research dropped their price objective on Meta Platforms from $875.00 to $830.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Susquehanna dropped their price objective on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. Rosenblatt Securities increased their price objective on Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Finally, TD Securities dropped their price objective on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms currently has an average rating of "Moderate Buy" and an average target price of $752.33.

Insider Activity at Meta Platforms

In related news, CTO Andrew Bosworth sold 22,449 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The stock was 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 of the company's stock, valued at $753,393.55. This trade represents a 94.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $701.13, for a total value of $9,670,686.09. Following the completion of the sale, the chief executive officer directly owned 118,279 shares of the company's stock, valued at approximately $82,928,955.27. The trade was a 10.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 152,865 shares of company stock valued at $105,467,671 in the last 90 days. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Stock Up 0.6%

META stock traded up $4.18 on Monday, reaching $716.86. 3,710,559 shares of the company traded hands, compared to its average volume of 15,368,374. Meta Platforms, Inc. has a one year low of $450.80 and a one year high of $747.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market cap of $1.80 trillion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 1.71 and a beta of 1.28. The firm has a fifty day simple moving average of $692.48 and a 200-day simple moving average of $642.00.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating analysts' consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same quarter last year, the company earned $4.71 EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.

Meta Platforms 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.