Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Hemington Wealth Management

Hemington Wealth Management increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,739 shares of the social networking company’s stock after acquiring an additional 132 shares during the period. Hemington Wealth Management’s holdings in Meta Platforms were worth $876,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in Meta Platforms during the fourth quarter worth about $32,000. Clear Investment Research LLC grew its holdings in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the period. Delos Wealth Advisors LLC grew its holdings in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the second quarter worth about $38,000. Finally, Ruedi Wealth Management Inc. grew its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $516.86 on Friday. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $544.23. The business’s fifty day simple moving average is $505.26 and its 200-day simple moving average is $493.93. The firm has a market cap of $1.31 trillion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating 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 prior year, the company posted $3.23 EPS. The company’s quarterly revenue was up 22.1% on a year-over-year basis. Equities analysts forecast that Meta Platforms, Inc. will post 21.3 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Buying and Selling

In related news, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $536.92, for a total transaction of $221,747.96. Following the transaction, the chief operating officer now owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $536.92, for a total transaction of $221,747.96. Following the transaction, the chief operating officer now owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $500.00, for a total value of $452,500.00. Following the transaction, the insider now directly owns 40,560 shares in the company, valued at approximately $20,280,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 390,977 shares of company stock valued at $202,384,548. Corporate insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on META shares. Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. Bank of America raised their price objective on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Loop Capital raised their price objective on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Susquehanna raised their price objective on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Finally, Robert W. Baird raised their price objective on Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $576.66.

Meta Platforms 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.