Stephens Inc. AR has increased its holdings in Meta Platforms, Inc. by 5.6% during the second quarter of 2023, according to a recent filing with the Securities and Exchange Commission (SEC). The firm now owns 84,687 shares of the social media giant, having acquired an additional 4,473 shares during this period. As of the latest disclosure, Stephens Inc. AR’s stake in Meta is valued at approximately $62.51 million and represents about 0.9% of its total investment portfolio, making it the firm’s 18th largest position.
Several institutional investors have also made significant adjustments to their positions in Meta Platforms, highlighting growing confidence in the company. For instance, Kingstone Capital Partners Texas LLC dramatically increased its stake by a staggering 608,429.2%, now holding 59,775,823 shares valued at around $44.12 billion. Other notable investors include Invesco Ltd., which raised its holdings by 2.3% to 17,669,795 shares worth $10.18 billion, and Goldman Sachs Group Inc., which increased its stake by 8.8% to 15,575,962 shares valued at approximately $8.98 billion.
Analysts Weigh In on Meta’s Performance
Meta Platforms continues to attract positive attention from analysts. Recently, Wedbush raised its price target for the company from $750.00 to $920.00, assigning an “outperform” rating. Similarly, Barclays increased its target from $640.00 to $810.00, giving it an “overweight” rating. As of now, five analysts have rated Meta with a Strong Buy, while thirty-nine have issued Buy ratings. The average price target stands at $829.66.
In the latest quarterly results released on October 29, 2023, Meta Platforms reported earnings per share (EPS) of $7.25, exceeding analysts’ expectations of $6.74. The company’s revenue increased by 26.2% year-over-year, showcasing a significant performance uplift. This positive trajectory has contributed to a market capitalization of approximately $1.89 trillion.
Insider Trading Activity
In addition to institutional investments, recent insider trading activities have drawn attention. Chief Operating Officer Javier Olivan sold 517 shares at an average price of $749.57, resulting in a total transaction value of approximately $387,527.69. Following this sale, Olivan holds 7,958 shares in the company, valued at around $5.97 million. Similarly, Director Robert M. Kimmitt sold 465 shares for a total of $333,391.05, reducing his ownership by 5.53%.
Over the past three months, insiders have sold a total of 213,663 shares, valued at approximately $164.6 million. Currently, insiders own 13.61% of Meta’s total shares.
Meta Platforms has also declared a quarterly dividend of $0.525 per share, paid on September 29, 2023. This dividend reflects an annual yield of 0.3% and a payout ratio of 7.60%.
As Meta Platforms continues to evolve within the social media landscape, its strategic investments and robust performance record position it favorably among investors and analysts alike. The company’s focus on expanding its offerings across various platforms, including Facebook, Instagram, and WhatsApp, remains a core element of its growth strategy.
