MIG Capital LLC Grows Position in Meta Platforms, Inc. $META

MIG Capital LLC lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 8.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 79,453 shares of the social networking company’s stock after buying an additional 5,896 shares during the period. Meta Platforms makes up about 6.1% of MIG Capital LLC’s portfolio, making the stock its 5th largest position. MIG Capital LLC’s holdings in Meta Platforms were worth $58,643,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Evergreen Private Wealth LLC increased its position in shares of Meta Platforms by 237.5% during the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after purchasing an additional 38 shares in the last quarter. Briaud Financial Planning Inc purchased a new position in Meta Platforms during the 2nd quarter worth $42,000. WFA Asset Management Corp increased its position in Meta Platforms by 42.6% during the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after buying an additional 20 shares in the last quarter. Maseco LLP purchased a new stake in Meta Platforms in the second quarter valued at about $54,000. Finally, Piscataqua Savings Bank boosted its holdings in Meta Platforms by 433.3% in the second quarter. Piscataqua Savings Bank now owns 80 shares of the social networking company’s stock worth $59,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META opened at $661.53 on Friday. The firm has a market capitalization of $1.67 trillion, a P/E ratio of 29.22, a PEG ratio of 1.34 and a beta of 1.28. The stock has a 50-day simple moving average of $674.56 and a two-hundred day simple moving average of $705.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, topping analysts’ consensus estimates of $6.74 by $0.51. The firm had revenue of $51.24 billion for the quarter, compared to the consensus estimate of $49.34 billion. Meta Platforms had a return on equity of 39.35% and a net margin of 30.89%.The company’s revenue was up 26.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.03 earnings per share. On average, equities analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Monday, December 15th will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Meta Platforms’s payout ratio is 9.28%.

Insider Activity

In other Meta Platforms news, CAO Aaron Anderson sold 726 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $591.60, for a total value of $429,501.60. Following the completion of the transaction, the chief accounting officer owned 6,035 shares in the company, valued at approximately $3,570,306. This represents a 10.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Susan J. Li sold 6,875 shares of the stock in a transaction dated Saturday, November 15th. The stock was sold at an average price of $609.46, for a total transaction of $4,190,037.50. Following the sale, the chief financial officer directly owned 88,370 shares in the company, valued at approximately $53,857,980.20. The trade was a 7.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 41,959 shares of company stock worth $26,671,107. 13.61% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Arete Research set a $718.00 price objective on shares of Meta Platforms in a report on Thursday. Barclays dropped their target price on shares of Meta Platforms from $810.00 to $770.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Erste Group Bank cut shares of Meta Platforms from a “buy” rating to a “hold” rating in a report on Monday, November 10th. Stifel Nicolaus dropped their price objective on shares of Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, Citigroup reissued a “buy” rating on shares of Meta Platforms in a research report on Thursday. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $819.43.

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.