Fortem Financial Group LLC Has $3.55 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Fortem Financial Group LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,045 shares of the social networking company’s stock after buying an additional 97 shares during the quarter. Meta Platforms makes up about 1.5% of Fortem Financial Group LLC’s holdings, making the stock its 15th biggest position. Fortem Financial Group LLC’s holdings in Meta Platforms were worth $3,552,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in META. Archer Investment Corp grew its stake in shares of Meta Platforms by 0.5% in the 2nd quarter. Archer Investment Corp now owns 8,259 shares of the social networking company’s stock valued at $4,164,000 after purchasing an additional 41 shares during the period. Founders Financial Securities LLC increased its holdings in shares of Meta Platforms by 13.3% in the second quarter. Founders Financial Securities LLC now owns 8,332 shares of the social networking company’s stock valued at $4,201,000 after purchasing an additional 977 shares in the last quarter. Oxinas Partners Wealth Management LLC increased its holdings in shares of Meta Platforms by 125.9% in the second quarter. Oxinas Partners Wealth Management LLC now owns 2,322 shares of the social networking company’s stock valued at $1,171,000 after purchasing an additional 1,294 shares in the last quarter. Octavia Wealth Advisors LLC raised its position in Meta Platforms by 11.7% in the 2nd quarter. Octavia Wealth Advisors LLC now owns 4,416 shares of the social networking company’s stock worth $2,227,000 after purchasing an additional 462 shares during the last quarter. Finally, Northstar Advisory Group LLC lifted its holdings in Meta Platforms by 8.7% during the 2nd quarter. Northstar Advisory Group LLC now owns 3,264 shares of the social networking company’s stock worth $1,646,000 after buying an additional 260 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

META opened at $500.27 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a fifty day simple moving average of $505.18 and a two-hundred day simple moving average of $494.12. The company 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. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the company earned $3.23 EPS. Research analysts predict that Meta Platforms, Inc. will post 21.3 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on META. Oppenheimer boosted their target price on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Stifel Nicolaus lifted their target price on Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Robert W. Baird upped their price target on shares of Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Sanford C. Bernstein upped their price objective on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Barclays raised their target price on shares of Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $576.66.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $520.00, for a total transaction of $470,600.00. Following the completion of the transaction, the insider now directly owns 38,722 shares of the company’s stock, valued at $20,135,440. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $520.00, for a total value of $470,600.00. Following the transaction, the insider now owns 38,722 shares in the company, valued at approximately $20,135,440. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the transaction, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The disclosure for this sale can be found here. Insiders sold 390,977 shares of company stock worth $202,384,548 over the last quarter. 13.71% of the stock is currently owned by insiders.

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.