LongView Wealth Management Reduces Holdings in Meta Platforms, Inc. (NASDAQ:META)

LongView Wealth Management reduced its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,729 shares of the social networking company’s stock after selling 33 shares during the quarter. LongView Wealth Management’s holdings in Meta Platforms were worth $872,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in META. Quest Partners LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth about $32,000. Clear Investment Research LLC boosted its position in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Delos Wealth Advisors LLC boosted its position in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. Ruedi Wealth Management Inc. boosted 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 acquiring an additional 44 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted 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 acquiring an additional 43 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

META has been the topic of several research analyst reports. Bank of America raised their target price on shares of Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research report on Wednesday, July 24th. Jefferies Financial Group lifted their price target on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Robert W. Baird lifted their price target on shares of Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Truist Financial lifted their price target on shares of Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $574.41.

Insider Buying and Selling

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $463.00, for a total transaction of $190,756.00. Following the completion of the transaction, the chief operating officer now directly owns 5,559 shares in the company, valued at $2,573,817. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The disclosure for this sale can be found here. Insiders sold a total of 384,783 shares of company stock valued at $194,001,589 over the last ninety days. 13.71% of the stock is owned by company insiders.

Meta Platforms Price Performance

NASDAQ META traded down $2.55 on Tuesday, reaching $526.73. The company’s stock had a trading volume of 7,738,072 shares, compared to its average volume of 16,271,585. Meta Platforms, Inc. has a twelve month low of $276.03 and a twelve month high of $542.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. The stock has a market cap of $1.34 trillion, a PE ratio of 30.38, a PEG ratio of 1.27 and a beta of 1.21. The firm’s 50 day moving average is $501.01 and its two-hundred day moving average is $489.45.

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

Meta Platforms Dividend Announcement

The company also recently announced 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 14th. This represents a $2.00 annualized dividend and a yield of 0.38%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

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.