Meta Platforms, Inc. (NASDAQ:META) Stock Holdings Increased by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management increased its holdings in Meta Platforms by 37.3% in the first quarter, owning 76,871 shares worth approximately $44.3 million.
• Institutional investors collectively own 79.91% of Meta's stock, indicating strong confidence in the company's performance by major investment firms.
• Meta Platforms reported $7.14 EPS for the last quarter, exceeding analyst expectations and reflecting a 21.6% year-over-year revenue growth, with quarterly revenue reaching $47.52 billion.

Picton Mahoney Asset Management boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 37.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,871 shares of the social networking company's stock after acquiring an additional 20,881 shares during the period. Meta Platforms comprises 0.8% of Picton Mahoney Asset Management's portfolio, making the stock its 9th largest holding. Picton Mahoney Asset Management's holdings in Meta Platforms were worth $44,305,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Meta Platforms in the fourth quarter worth $2,243,603,000. Northern Trust Corp boosted its stake in shares of Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after purchasing an additional 2,787,832 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Meta Platforms by 712.2% in the first quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company's stock valued at $1,462,589,000 after purchasing an additional 2,225,186 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Meta Platforms in the fourth quarter valued at $1,162,918,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Activity

In other news, COO Javier Olivan sold 517 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $715.00, for a total value of $369,655.00. Following the completion of the sale, the chief operating officer directly owned 5,785 shares of the company's stock, valued at $4,136,275. This represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $719.86, for a total transaction of $373,607.34. Following the completion of the sale, the insider directly owned 25,550 shares of the company's stock, valued at $18,392,423. This trade represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,980 shares of company stock valued at $105,708,832 over the last ninety days. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

META stock opened at $750.01 on Friday. The company has a current ratio of 1.97, a quick ratio of 2.66 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a one year low of $450.80 and a one year high of $784.75. The firm has a market capitalization of $1.89 trillion, a PE ratio of 27.15, a P/E/G ratio of 1.84 and a beta of 1.27. The firm has a 50-day moving average of $701.68 and a two-hundred day moving average of $645.68.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $44.55 billion. During the same period in the prior year, the firm earned $5.16 earnings per share. The business's quarterly revenue was up 21.6% on a year-over-year basis. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms's dividend payout ratio is currently 8.19%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on META shares. Barclays upped their target price on shares of Meta Platforms from $640.00 to $810.00 and gave the company an "overweight" rating in a research note on Friday. Raymond James Financial upped their price target on shares of Meta Platforms from $750.00 to $900.00 and gave the company a "strong-buy" rating in a report on Thursday. Guggenheim reaffirmed a "buy" rating and issued a $800.00 price target (up from $725.00) on shares of Meta Platforms in a report on Monday. Truist Financial upped their price target on shares of Meta Platforms from $700.00 to $720.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Finally, Needham & Company LLC raised shares of Meta Platforms from an "underperform" rating to a "hold" rating in a report on Thursday, July 3rd. 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 company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $820.32.

About Meta Platforms

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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