Fortune Financial Advisors LLC Has $1.93 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Fortune Financial Advisors LLC raised its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,829 shares of the social networking company’s stock after purchasing an additional 175 shares during the period. Meta Platforms makes up approximately 1.2% of Fortune Financial Advisors LLC’s investment portfolio, making the stock its 26th biggest position. Fortune Financial Advisors LLC’s holdings in Meta Platforms were worth $1,931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in META. Norges Bank bought a new position in shares of Meta Platforms in the fourth quarter worth about $11,285,855,000. Capital Research Global Investors increased its position in Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management lifted its stake in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. Vanguard Group Inc. boosted its position in Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after buying an additional 3,104,550 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after buying an additional 2,748,620 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

Shares of META stock opened at $524.62 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 firm has a fifty day simple moving average of $505.13 and a two-hundred day simple moving average of $495.43. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month high of $544.23. The firm has a market capitalization of $1.33 trillion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same period in the previous year, the firm posted $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. Analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business 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 dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. Meta Platforms’s payout ratio is 11.49%.

Wall Street Analysts Forecast Growth

META has been the topic of several recent research reports. Morgan Stanley raised their price objective on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Wedbush restated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a report on Wednesday, July 24th. Roth Mkm raised their price objective on shares of Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Guggenheim lifted their target price on shares of Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Raymond James upped their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

Insider Buying and Selling

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction 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 transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $502.00, for a total value of $206,824.00. Following the completion of the transaction, the chief operating officer now directly owns 7,619 shares of the company’s stock, valued at $3,824,738. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction on 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 directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 357,574 shares of company stock worth $185,587,773. 13.71% of the stock is owned by corporate 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.