Makena Capital Management LLC Has $15.06 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Makena Capital Management LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,867 shares of the social networking company’s stock after selling 418 shares during the quarter. Meta Platforms comprises about 3.5% of Makena Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. Makena Capital Management LLC’s holdings in Meta Platforms were worth $15,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Quest Partners LLC purchased a new position in shares of Meta Platforms during the fourth quarter valued at approximately $32,000. Clear Investment Research LLC boosted its holdings in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the period. Delos Wealth Advisors LLC boosted its holdings in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC bought a new position in Meta Platforms in the 2nd quarter valued at $38,000. Finally, Ruedi Wealth Management Inc. increased its stake in 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 purchasing an additional 44 shares during the period. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $567.84 on Friday. The business’s 50 day moving average price is $514.38 and its 200 day moving average price is $499.02. The company has a market cap of $1.44 trillion, a price-to-earnings ratio of 32.62, a PEG ratio of 1.39 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $577.40.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the firm earned $3.23 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, research analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on META shares. Raymond James upped their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. TD Securities increased their price objective on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Loop Capital raised their price objective on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, Piper Sandler boosted their target price on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $591.23.

Insider Activity

In related news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $500.57, for a total transaction of $453,015.85. Following the completion of the transaction, the insider now owns 37,845 shares in the company, valued at $18,944,071.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 342,358 shares of company stock valued at $179,431,101. 13.71% of the stock is currently owned by company insiders.

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.