Levin Capital Strategies LP has a $383,000 stock position in Meta Platforms, Inc. (NASDAQ:META)

VaselineSeptember 14, 2024

0 5 minutes read

Levin Capital Strategies LP reduced its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 11.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 760 shares of the social networking company’s stock after selling 100 shares during the quarter. Levin Capital Strategies LP’s holdings in Meta Platforms were worth $383,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Delos Wealth Advisors LLC raised its position in Meta Platforme by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the second quarter valued at $38,000. Ruedi Wealth Management Inc. grew its position in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. raised its position in shares of Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares during the period. Finally, Quest Partners LLC acquired a new stake in shares of Meta Platforms in the fourth quarter valued at $32,000. 79.91% of the shares are currently owned by institutional investors and hedge funds.

The Wall Street analyst weighs in

Several equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Guggenheim boosted their price objective on shares of Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. KeyCorp boosted their price objective on shares of Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price objective on shares of Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Wedbush reiterated an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research report on Wednesday, July 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $577.26.

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Read our latest report on META

Performance of meta platform stocks

Shares of META stock opened at $524.62 on Friday. The firm has a 50-day moving average of $505.13 and a 200-day moving average of $495.37. The company has a market cap of $1.33 trillion, a P/E ratio of 30.13, a P/E/G ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83, and a quick ratio of 2.83. Meta Platforms, Inc. it has a one year low of $279.40 and a one year high of $544.23.

Meta Platforms (NASDAQ:META – Get Free Report ) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. In the same quarter last year, the company posted earnings of $3.23 per share. The company’s revenue for the quarter was up 22.1% year-over-year. Equities research analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16. This represents a dividend of $2.00 on an annualized basis and a yield of 0.38%. Meta Platforms’ dividend payout ratio (DPR) is currently 11.49%.

Insider buying and selling

In related news, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the transaction, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Also, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 357,574 shares of company stock worth $185,587,773. Insiders own 13.71% of the company’s shares.

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.