Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Aveo Capital Partners LLC

Aveo Capital Partners LLC reduced its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 33.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,627 shares of the social networking company’s stock after selling 814 shares during the period. Aveo Capital Partners LLC’s holdings in Meta Platforms were worth $820,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Delos Wealth Advisors LLC boosted 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 buying an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the second quarter worth about $38,000. Ruedi Wealth Management Inc. boosted its stake in shares of Meta Platforms by 122.2% during the 2nd 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 in the last quarter. Richardson Financial Services Inc. grew its position in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Meta Platforms in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on META. Morgan Stanley increased their price target on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Wolfe Research started coverage on Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price on the stock. TD Cowen boosted their price target on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. 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, Bank of America lifted their target price on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average price target of $576.66.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $500.27 on Friday. The firm has a market cap of $1.27 trillion, a PE ratio of 28.73, 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, 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 $505.18 and its 200-day simple moving average is $494.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (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 analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.23 EPS. Equities analysts forecast that Meta Platforms, Inc. will post 21.3 earnings per share for the current year.

Meta Platforms Announces Dividend

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

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $520.00, for a total transaction of $470,600.00. Following the transaction, the insider now directly owns 38,722 shares in the company, valued at $20,135,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $503.34, for a total value of $8,406,784.68. Following the completion of the transaction, the chief executive officer now owns 275,297 shares in the company, valued at $138,567,991.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $520.00, for a total transaction of $470,600.00. Following the sale, the insider now owns 38,722 shares in the company, valued at $20,135,440. The disclosure for this sale can be found here. In the last quarter, insiders sold 390,977 shares of company stock worth $202,384,548. Insiders own 13.71% of the company’s stock.

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.