DMC Group LLC Has $3 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

DMC Group LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 11.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,949 shares of the social networking company’s stock after purchasing an additional 612 shares during the period. Meta Platforms makes up approximately 2.6% of DMC Group LLC’s holdings, making the stock its 4th biggest position. DMC Group LLC’s holdings in Meta Platforms were worth $3,000,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of META. Quest Partners LLC purchased a new position in shares of Meta Platforms in the fourth quarter worth $32,000. Clear Investment Research LLC increased its holdings in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Delos Wealth Advisors LLC raised its position in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the last quarter. Richardson Financial Services Inc. lifted its stake in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of Meta Platforms during the 1st quarter valued at about $44,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total value of $483,224.75. Following the sale, the insider now owns 36,940 shares of the company’s stock, valued at $19,724,113. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the transaction, the chief executive officer now owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total value of $483,224.75. Following the sale, the insider now owns 36,940 shares of the company’s stock, valued at $19,724,113. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,770 shares of company stock valued at $157,719,910. 13.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Citigroup increased their price objective on shares of Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company increased their price target on Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Evercore ISI lifted their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Jefferies Financial Group increased their target price on Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Guggenheim boosted their price target on Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have given a buy rating and two have assigned a strong buy 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 $572.51.

Meta Platforms Price Performance

META traded down $1.78 during trading hours on Wednesday, hitting $526.76. The company’s stock had a trading volume of 10,770,526 shares, compared to its average volume of 16,390,408. Meta Platforms, Inc. has a 12 month low of $274.38 and a 12 month high of $542.81. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The business’s 50-day moving average price is $498.29 and its 200-day moving average price is $485.68. The stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.35, a P/E/G ratio of 1.27 and a beta of 1.21.

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

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is 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.