Genesee Capital Advisors LLC Has $1.67 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Genesee Capital Advisors LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,310 shares of the social networking company’s stock after buying an additional 37 shares during the quarter. Meta Platforms accounts for about 0.8% of Genesee Capital Advisors LLC’s investment portfolio, making the stock its 29th largest position. Genesee Capital Advisors LLC’s holdings in Meta Platforms were worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. Baird Financial Group Inc. grew its position in Meta Platforms by 24.2% during the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after acquiring an additional 163,067 shares during the last quarter. California State Teachers Retirement System lifted its position in Meta Platforms by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after purchasing an additional 51,900 shares during the period. Donoghue Forlines LLC boosted its stake in shares of Meta Platforms by 94.4% in the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after purchasing an additional 4,054 shares during the last quarter. Voyager Global Management LP grew its position in shares of Meta Platforms by 37.3% during the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after buying an additional 140,000 shares during the period. Finally, Mitsubishi UFJ Asset Management UK Ltd. raised its stake in shares of Meta Platforms by 400.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock worth $885,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Trading Down 1.8 %

META stock opened at $527.42 on Monday. The stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 1.27 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 2.68. The company has a fifty day moving average price of $500.48 and a two-hundred day moving average price of $488.50. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the prior year, the firm earned $3.23 EPS. The business’s revenue was up 22.1% on a year-over-year basis. Equities analysts anticipate that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a $0.50 dividend. The ex-dividend date of this dividend 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 presently 11.49%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company raised their price target on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Raymond James upped their price target on Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research note on Monday, July 1st. TD Securities raised their price objective on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Finally, Truist Financial raised their target price on shares of Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $574.41.

Insider Buying and Selling at Meta Platforms

In other news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares in the company, valued at approximately $300,466,976.03. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Sheryl Sandberg sold 105,000 shares of Meta Platforms stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the transaction, the chief executive officer now owns 72,473 shares of the company’s stock, valued at $38,302,705.23. The disclosure for this sale can be found here. Insiders sold 349,174 shares of company stock valued at $175,146,777 in the last quarter. Company insiders own 13.71% of the company’s stock.

About Meta Platforms

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.