Rockingstone Advisors LLC buys 222 shares of Meta Platforms, Inc. (NASDAQ:META)

Rockingstone Advisors LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 3.2% in the second quarter, HoldingsChannel reports. The fund owned 7,229 shares of the social networking company’s stock after purchasing an additional 222 shares during the period. Meta Platforms makes up 1.9% of Rockingstone Advisors LLC’s portfolio, making the stock its 18th biggest position. Rockingstone Advisors LLC’s holdings in Meta Platforms were worth $3,645,000 at the end of the most recent quarter.

Several other hedge funds have recently made changes to their positions in the business. Baird Financial Group Inc. raised its holdings in shares of 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 period. California State Teachers Retirement System boosted its stake in Meta Platforms by 1.5% during 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 purchasing an additional 51,900 shares during the last quarter. Donoghue Forlines LLC boosted its holdings in shares of Meta Platforms by 94.4% in 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 period. shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Meta Platforms by 7.7% in 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 in the last quarter. Finally, Voyager Global Management LP boosted its holdings in shares of Meta Platforms by 37.3% during the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000. after buying an additional 140,000 shares in the last quarter. 79.91% of shares are owned by institutional investors.

The Wall Street analyst weighs in

META has been the subject of several recent analyst reports. Canaccord Genuity Group cut their price target on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Sanford C. Bernstein boosted their price objective on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Roth Mkm boosted their price objective on shares of Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. KeyCorp boosted their target price on shares of Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus upped their target price on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat , Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $574.41.

Read our latest analysis on META

Indoor activity

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total value of $483,224.75. Following the completion of the sale, the insider now owns 36,940 shares in the company, valued at $19,724,113. The sale was disclosed in a filing with the SEC, which is accessible through the SEC’s website. In other news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total value of $50,054,550.00. Following the completion of the transaction, the director now directly owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The transaction was disclosed in a filing with the SEC, which is accessible via this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total value of $483,224.75. Following the completion of the transaction, the insider now directly owns 36,940 shares in the company, valued at approximately $19,724,113. The disclosure for this sale can be found here. Insiders have sold 349,174 shares of company stock worth $175,146,777 over the last 90 days. 13.71% of shares are currently owned by corporate insiders.

Performance of meta platform stocks

Shares of META stock opened at $527.42 on Friday. The company has a quick ratio of 2.68, a current ratio of 2.83, and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. it has a 52-week low of $274.38 and a 52-week high of $542.81. The firm has a 50-day moving average of $500.48 and a 200-day moving average of $487.20. The company has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META – Get Free Report ) last announced its quarterly earnings results on Wednesday, July 31st. The social media company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. In the same quarter last year, the company earned $3.23 per share. The company’s quarterly revenue was up 22.1% year over year. On average, equities analysts estimate that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date was Friday, June 14. This represents an annualized dividend of $2.00 and a yield of 0.38%. Meta platforms payout rate is 11.49%.

About Meta Platforms

(Free Report)

Meta Platforms, Inc is committed to developing products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets and wearables around the world. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which allows people to share, chat, discover and connect with interests; Instagram, a community for sharing photos, videos and private messages, as well as feeds, stories, movies, videos, live and shops; Messenger, a messaging app for people to connect with friends, family, communities and businesses across platforms and devices through text, audio and video calls; and WhatsApp, a messaging app that is used by people and businesses to communicate and transact privately.

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Want to see what other hedge funds own META? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Meta Platforms, Inc. (NASDAQ:META – Free Report).

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