17 Capital Partners LLC Has $22.13 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

17 Capital Partners LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,898 shares of the social networking company’s stock after purchasing an additional 89 shares during the quarter. Meta Platforms makes up about 15.8% of 17 Capital Partners LLC’s investment portfolio, making the stock its largest position. 17 Capital Partners LLC’s holdings in Meta Platforms were worth $22,134,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of META. Baird Financial Group Inc. grew its position in Meta Platforms by 24.2% during the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after acquiring an additional 163,067 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Meta Platforms by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after buying an additional 51,900 shares during the period. Donoghue Forlines LLC raised its holdings in Meta Platforms by 94.4% during the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after buying an additional 4,054 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Meta Platforms by 7.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after buying an additional 32,423 shares during the period. Finally, Voyager Global Management LP grew its holdings in Meta Platforms by 37.3% in the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after acquiring an additional 140,000 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded down $9.91 during trading on Friday, hitting $527.42. 14,715,158 shares of the company’s stock traded hands, compared to its average volume of 16,365,660. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81. The business has a 50-day simple moving average of $500.48 and a 200-day simple moving average of $487.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The stock has a market capitalization of $1.34 trillion, a P/E ratio of 30.29, a PEG ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.23 earnings per share. As a group, analysts forecast that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 150 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the transaction, the chief executive officer now owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $467.57, for a total value of $423,150.85. Following the transaction, the insider now owns 43,275 shares of the company’s stock, valued at $20,234,091.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the transaction, the chief executive officer now owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The disclosure for this sale can be found here. Insiders sold 349,174 shares of company stock valued at $175,146,777 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Wall Street Analysts Forecast Growth

META has been the subject of several recent analyst reports. Oppenheimer upped their price objective on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Jefferies Financial Group increased their price objective on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research note on Thursday, August 1st. TD Securities raised their price target on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Finally, The Goldman Sachs Group lifted their price target on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

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.