Archer Investment Corp Has $4.16 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Archer Investment Corp raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,259 shares of the social networking company’s stock after purchasing an additional 41 shares during the quarter. Meta Platforms makes up about 1.2% of Archer Investment Corp’s investment portfolio, making the stock its 13th largest position. Archer Investment Corp’s holdings in Meta Platforms were worth $4,164,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vantage Financial Partners LLC increased its holdings in shares of Meta Platforms by 3.2% in the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after purchasing an additional 41 shares in the last quarter. Concentrum Wealth Management lifted its holdings in Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares in the last quarter. Aveo Capital Partners LLC boosted its position in Meta Platforms by 45.7% in the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock valued at $815,000 after buying an additional 722 shares during the last quarter. 9258 Wealth Management LLC increased its stake in shares of Meta Platforms by 66.4% in the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock valued at $1,413,000 after buying an additional 1,594 shares during the period. Finally, Rollins Financial raised its position in shares of Meta Platforms by 7.5% during the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock worth $10,851,000 after acquiring an additional 2,133 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Evercore ISI raised their price target on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research note on Thursday, August 1st. Robert W. Baird lifted their price target on shares of Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Truist Financial increased their price objective on shares of Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Wedbush reaffirmed an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a report on Wednesday, July 24th. Two equities research 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 issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $576.66.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $500.27 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The firm has a market cap of $1.27 trillion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The stock’s 50-day moving average is $505.18 and its 200-day moving average is $494.12. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $544.23.

Meta Platforms (NASDAQ:META) last released its 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. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.23 EPS. Equities analysts predict that Meta Platforms, Inc. will post 21.3 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares in the company, valued at approximately $6,315,852.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO Andrew Bosworth sold 5,057 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 transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on 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 three months, insiders have sold 390,977 shares of company stock worth $202,384,548. Insiders own 13.71% of the company’s stock.

Meta Platforms Company 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.