Nabity Jensen Investment Management Inc increased its stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,378 shares of the social networking company’s stock after acquiring an additional 15 shares during the period. Meta Platforms makes up approximately 0.8% of Nabity Jensen Investment Management Inc’s investment portfolio, making the stock its 29th biggest position. Nabity Jensen Investment Management Inc’s holdings in Meta Platforms were worth $1,017,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC grew its position in Meta Platforms by 608,429.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock worth $44,119,937,000 after acquiring an additional 59,766,000 shares in the last quarter. Invesco Ltd. grew its position in Meta Platforms by 2.3% in the first quarter. Invesco Ltd. now owns 17,669,795 shares of the social networking company’s stock worth $10,184,163,000 after acquiring an additional 400,927 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Meta Platforms by 8.8% in the first quarter. Goldman Sachs Group Inc. now owns 15,575,962 shares of the social networking company’s stock worth $8,977,361,000 after acquiring an additional 1,255,546 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Meta Platforms by 4.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,543,468 shares of the social networking company’s stock worth $7,229,553,000 after acquiring an additional 536,160 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Meta Platforms by 2.5% in the first quarter. Wellington Management Group LLP now owns 10,041,171 shares of the social networking company’s stock worth $5,787,329,000 after purchasing an additional 247,850 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms Stock Performance
Meta Platforms stock opened at $713.08 on Wednesday. The company has a 50 day moving average price of $753.44 and a 200-day moving average price of $677.16. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The company has a market capitalization of $1.79 trillion, a PE ratio of 25.82, a P/E/G ratio of 1.49 and a beta of 1.20.
Meta Platforms Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 22nd. Meta Platforms’s dividend payout ratio (DPR) is presently 7.60%.
Insider Buying and Selling at Meta Platforms
In related news, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $769.38, for a total transaction of $12,192,364.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 11,694 shares of Meta Platforms stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $775.00, for a total transaction of $9,062,850.00. Following the transaction, the chief technology officer directly owned 1,799 shares in the company, valued at approximately $1,394,225. The trade was a 86.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 213,146 shares of company stock valued at $164,209,720. 13.61% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several analysts have issued reports on META shares. Canaccord Genuity Group raised their price objective on shares of Meta Platforms from $825.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Royal Bank Of Canada raised their price objective 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. JPMorgan Chase & Co. raised their price objective on shares of Meta Platforms from $795.00 to $875.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Piper Sandler raised their price objective on shares of Meta Platforms from $808.00 to $880.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Finally, Guggenheim reissued a “buy” rating and issued a $800.00 price objective (up previously from $725.00) on shares of Meta Platforms in a research note on Monday, July 28th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $830.61.
Read Our Latest Report on META
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.
Further Reading
- Five stocks we like better than Meta Platforms
- Why is the Ex-Dividend Date Significant to Investors?
- EA’s $55 Billion Deal Spurs a Shake-Up in the Gaming Sector
- Utilities Stocks Explained – How and Why to Invest in Utilities
- These Are the 3 Hottest Sectors for Q3 Earnings Growth
- How to Capture the Benefits of Dividend Increases
- AMD Could Double From Here—Thanks to Its Blockbuster OpenAI Deal
Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META – Free Report).
Receive News & Ratings for Meta Platforms Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meta Platforms and related companies with MarketBeat.com's FREE daily email newsletter.