Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 55.0% during the second quarter, Holdings Channel reports. The firm owned 30,604 shares of the social networking company’s stock after acquiring an additional 10,865 shares during the quarter. Meta Platforms comprises 1.0% of Thoroughbred Financial Services LLC’s portfolio, making the stock its 19th largest holding. Thoroughbred Financial Services LLC’s holdings in Meta Platforms were worth $15,431,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock worth $90,891,055,000 after purchasing an additional 831,047 shares during the last quarter. Capital World Investors raised its position in shares of Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after buying an additional 244,803 shares in the last quarter. Capital International Investors boosted its holdings in shares of Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after acquiring an additional 1,083,719 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Meta Platforms by 14.5% during the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. Finally, Sanders Capital LLC raised its holdings in Meta Platforms by 2.4% during the fourth quarter. Sanders Capital LLC now owns 14,569,705 shares of the social networking company’s stock worth $5,157,093,000 after purchasing an additional 344,384 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Up 1.7 %

Shares of META opened at $533.28 on Tuesday. The stock has a fifty day moving average price of $505.21 and a two-hundred day moving average price of $495.81. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company has a market cap of $1.35 trillion, a price-to-earnings ratio of 30.63, a PEG ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $544.23.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating 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 firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the company posted $3.23 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. Analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Ratings Changes

META has been the topic of a number of research analyst reports. Bank of America lifted their target price on Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Oppenheimer lifted their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Loop Capital raised their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Susquehanna upped their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. Finally, JMP Securities restated a “market outperform” rating and set a $525.00 price target on shares of Meta Platforms in a report on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

Insider Activity

In related news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $502.00, for a total value of $206,824.00. Following the completion of the sale, the chief operating officer now directly owns 7,619 shares in the company, valued at $3,824,738. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $502.00, for a total transaction of $206,824.00. Following the completion of the sale, the chief operating officer now owns 7,619 shares in the company, valued at $3,824,738. The disclosure for this sale can be found here. Insiders have sold 357,574 shares of company stock valued at $185,587,773 over the last 90 days. 13.71% of the stock is owned by company insiders.

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.