Coldstream Capital Management Inc. Boosts Position in Meta Platforms, Inc. $META

Coldstream Capital Management Inc. lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,854 shares of the social networking company’s stock after acquiring an additional 3,734 shares during the quarter. Meta Platforms makes up 0.8% of Coldstream Capital Management Inc.’s portfolio, making the stock its 25th biggest position. Coldstream Capital Management Inc.’s holdings in Meta Platforms were worth $50,820,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Pring Turner Capital Group Inc. boosted its stake in shares of Meta Platforms by 3.1% during the 2nd quarter. Pring Turner Capital Group Inc. now owns 2,303 shares of the social networking company’s stock valued at $1,700,000 after purchasing an additional 70 shares in the last quarter. Left Brain Wealth Management LLC lifted its holdings in Meta Platforms by 2.1% in the second quarter. Left Brain Wealth Management LLC now owns 23,237 shares of the social networking company’s stock worth $17,151,000 after buying an additional 480 shares during the period. Titleist Asset Management LLC boosted its position in Meta Platforms by 20.8% during the 2nd quarter. Titleist Asset Management LLC now owns 6,138 shares of the social networking company’s stock valued at $4,530,000 after acquiring an additional 1,057 shares in the last quarter. Barings LLC grew its holdings in shares of Meta Platforms by 6.4% during the 2nd quarter. Barings LLC now owns 1,403 shares of the social networking company’s stock worth $1,036,000 after acquiring an additional 84 shares during the period. Finally, J. L. Bainbridge & Co. Inc. raised its position in shares of Meta Platforms by 1.2% in the 2nd quarter. J. L. Bainbridge & Co. Inc. now owns 68,880 shares of the social networking company’s stock worth $50,840,000 after acquiring an additional 834 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 1.0%

Shares of Meta Platforms stock opened at $647.10 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a market capitalization of $1.63 trillion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 1.34 and a beta of 1.28. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25. The company has a 50-day simple moving average of $678.73 and a two-hundred day simple moving average of $706.59.

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

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were issued a $0.525 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is presently 9.28%.

Insider Transactions at Meta Platforms

In other news, CTO Andrew Bosworth sold 11,690 shares of the company’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the transaction, the chief technology officer directly owned 2,415 shares of the company’s stock, valued at $1,432,843.65. This represents a 82.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Aaron Anderson sold 726 shares of Meta Platforms stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $591.60, for a total value of $429,501.60. Following the completion of the sale, the chief accounting officer owned 6,035 shares of the company’s stock, valued at $3,570,306. The trade was a 10.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 40,923 shares of company stock valued at $26,007,416. Insiders own 13.61% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on META. Stifel Nicolaus dropped their price target on Meta Platforms from $900.00 to $875.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Meta Platforms in a research report on Monday. Cantor Fitzgerald reduced their target price on shares of Meta Platforms from $830.00 to $720.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 19th. Erste Group Bank lowered shares of Meta Platforms from a “buy” rating to a “hold” rating in a research note on Monday, November 10th. Finally, Royal Bank Of Canada cut their price objective on shares of Meta Platforms from $840.00 to $810.00 and set an “outperform” rating on the stock in a report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $823.93.

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.