Mill Creek Capital Advisors LLC Increases Stock Position in Meta Platforms, Inc. $META

Key Points

• Mill Creek Capital Advisors LLC increased its stock position in Meta Platforms, Inc. by 31.0% during the first quarter, now holding 9,713 shares valued at approximately $5.6 million.
• Multiple institutional investors, including Csenge Advisory Group and Skye Global Management LP, have also boosted their stakes in Meta Platforms, with 79.91% of the stock now owned by institutional investors.
• Meta Platforms reported strong quarterly earnings, with an EPS of $7.14 surpassing estimates, and a 21.6% increase in revenue year-over-year to $47.52 billion.

Mill Creek Capital Advisors LLC increased its position in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 31.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,713 shares of the social networking company's stock after purchasing an additional 2,300 shares during the quarter. Mill Creek Capital Advisors LLC's holdings in Meta Platforms were worth $5,598,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Csenge Advisory Group boosted its stake in Meta Platforms by 12.0% during the 1st quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company's stock valued at $5,498,000 after acquiring an additional 1,019 shares during the last quarter. Suvretta Capital Management LLC boosted its stake in Meta Platforms by 1.1% during the 4th quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after acquiring an additional 1,850 shares during the last quarter. Skye Global Management LP boosted its stake in Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after acquiring an additional 43,200 shares during the last quarter. ARQ Wealth Advisors LLC boosted its stake in Meta Platforms by 4.5% during the 1st quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company's stock valued at $452,000 after acquiring an additional 34 shares during the last quarter. Finally, JMG Financial Group Ltd. bought a new position in Meta Platforms during the 1st quarter valued at $284,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on META. Hsbc Global Res upgraded shares of Meta Platforms from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 31st. Royal Bank Of Canada raised their price target on shares of Meta Platforms from $740.00 to $840.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Wells Fargo & Company raised their price target on shares of Meta Platforms from $783.00 to $811.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. HSBC upgraded shares of Meta Platforms from a "hold" rating to a "buy" rating and raised their price target for the stock from $610.00 to $900.00 in a research report on Thursday, July 31st. Finally, Piper Sandler raised their price target on shares of Meta Platforms from $808.00 to $880.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $822.41.

Meta Platforms Stock Performance

META stock opened at $767.37 on Tuesday. 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 stock has a market cap of $1.93 trillion, a P/E ratio of 27.78, a P/E/G ratio of 1.63 and a beta of 1.27. The firm has a 50 day simple moving average of $725.90 and a 200 day simple moving average of $655.75. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25.

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, topping the consensus estimate of $5.75 by $1.39. The business had revenue of $47.52 billion during the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The firm's quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the company posted $5.16 earnings per share. Research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is currently 7.60%.

Insider Activity at Meta Platforms

In related news, insider Jennifer Newstead sold 515 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $776.38, for a total transaction of $399,835.70. Following the completion of the sale, the insider directly owned 25,035 shares in the company, valued at approximately $19,436,673.30. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 517 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $770.00, for a total transaction of $398,090.00. Following the transaction, the chief operating officer directly owned 4,751 shares in the company, valued at approximately $3,658,270. The trade was a 9.81% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 267,732 shares of company stock valued at $199,652,003. 13.61% of the stock is owned by company insiders.

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.

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