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Teramo Advisors LLC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

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Key Points

  • Teramo Advisors LLC invested $346,000 in Meta Platforms, Inc. during the first quarter, securing 600 shares, which is approximately 0.1% of their total holdings.
  • Equity analysts show strong confidence in Meta, with multiple firms raising their price targets, the highest being $800, and a consensus rating of "Moderate Buy".
  • Insider selling was reported, with CFO Susan J. Li and CEO Mark Zuckerberg each selling significant amounts of shares, indicating a 10.44% decrease in Zuckerberg's ownership.
  • MarketBeat previews top five stocks to own in September.

Teramo Advisors LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 600 shares of the social networking company's stock, valued at approximately $346,000. Meta Platforms accounts for 0.1% of Teramo Advisors LLC's holdings, making the stock its 6th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Valley Financial Group Inc. raised its position in shares of Meta Platforms by 2.4% in the 4th quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock valued at $344,000 after purchasing an additional 14 shares in the last quarter. Lantern Wealth Advisors LLC grew its stake in Meta Platforms by 0.5% in the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock worth $1,743,000 after purchasing an additional 14 shares in the last quarter. Riverwater Partners LLC grew its stake in Meta Platforms by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 572 shares of the social networking company's stock worth $335,000 after purchasing an additional 15 shares in the last quarter. ABLE Financial Group LLC grew its stake in Meta Platforms by 0.7% in the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock worth $1,251,000 after purchasing an additional 15 shares in the last quarter. Finally, Mosaic Family Wealth Partners LLC grew its stake in Meta Platforms by 1.2% in the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company's stock worth $840,000 after purchasing an additional 17 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other news, Director Robert M. Kimmitt sold 465 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $723.08, for a total value of $336,232.20. Following the completion of the sale, the director owned 9,342 shares in the company, valued at $6,755,013.36. This represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $716.10, for a total value of $371,655.90. Following the completion of the sale, the insider owned 26,069 shares of the company's stock, valued at approximately $18,668,010.90. This trade represents a 1.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,461 shares of company stock worth $105,335,225. Corporate insiders own 13.61% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on META shares. Guggenheim reiterated a "buy" rating and issued a $800.00 price target (up from $725.00) on shares of Meta Platforms in a report on Monday. Jefferies Financial Group lowered their price target on Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. Morgan Stanley boosted their price target on Meta Platforms from $650.00 to $750.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Stifel Nicolaus boosted their price target on Meta Platforms from $655.00 to $845.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Finally, Needham & Company LLC upgraded Meta Platforms from an "underperform" rating to a "hold" rating in a report on Thursday, July 3rd. Five analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $754.07.

Get Our Latest Report on META

Meta Platforms Stock Performance

Shares of NASDAQ:META traded down $4.79 on Wednesday, hitting $695.21. The company's stock had a trading volume of 26,166,475 shares, compared to its average volume of 9,688,610. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The company has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.68 and a beta of 1.28. The stock's 50-day moving average is $696.48 and its two-hundred day moving average is $643.47. Meta Platforms, Inc. has a 12 month low of $450.80 and a 12 month high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, beating the consensus estimate of $5.75 by $1.39. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The business's revenue was up 21.6% on a year-over-year basis. During the same period last year, the business earned $5.16 earnings per share. On average, equities research analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a dividend yield of 0.30%. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

About Meta Platforms

(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.

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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