Meta Platforms, Inc. (NASDAQ:META) Stock Position Increased by Bornite Capital Management LP

Bornite Capital Management LP raised its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 16.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,000 shares of the social networking company's stock after purchasing an additional 5,000 shares during the period. Meta Platforms accounts for approximately 5.2% of Bornite Capital Management LP's portfolio, making the stock its 8th largest holding. Bornite Capital Management LP's holdings in Meta Platforms were worth $20,173,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of META. Brighton Jones LLC lifted its stake in shares of Meta Platforms by 1.7% during the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after buying an additional 570 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Meta Platforms by 10.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after buying an additional 875 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in shares of Meta Platforms by 3.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after buying an additional 7,587 shares during the period. Highview Capital Management LLC DE lifted its stake in shares of Meta Platforms by 3.7% during the fourth quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock valued at $3,624,000 after buying an additional 218 shares during the period. Finally, Benchstone Capital Management LP purchased a new position in shares of Meta Platforms during the fourth quarter valued at approximately $23,749,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Activity

In related news, insider Christopher K. Cox sold 15,000 shares of Meta Platforms stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $767.80, for a total value of $11,517,000.00. Following the sale, the insider directly owned 222,205 shares in the company, valued at $170,608,999. This trade represents a 6.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 1,037 shares of Meta Platforms stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $785.18, for a total transaction of $814,231.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 292,211 shares of company stock valued at $215,232,155. 13.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on META. Wells Fargo & Company upped their price objective on shares of Meta Platforms from $783.00 to $811.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. TD Securities reduced their price objective on shares of Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Monness Crespi & Hardt upped their price objective on shares of Meta Platforms from $780.00 to $860.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Royal Bank Of Canada increased their price target on shares of Meta Platforms from $740.00 to $840.00 and gave the stock an "outperform" rating in a research note on Thursday, July 31st. Finally, Evercore ISI increased their price target on shares of Meta Platforms from $725.00 to $750.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Four research 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $822.41.

Meta Platforms Trading Down 1.3%

NASDAQ META opened at $780.08 on Thursday. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $795.46. The company has a 50-day simple moving average of $720.73 and a 200-day simple moving average of $653.97. 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 market capitalization of $1.96 trillion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 1.64 and a beta of 1.27.

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 business had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The company's quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the business posted $5.16 EPS. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's dividend payout ratio (DPR) is currently 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.

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