HHM Wealth Advisors LLC Raises Holdings in Meta Platforms, Inc. (NASDAQ:META)

HHM Wealth Advisors LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 31.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,594 shares of the social networking company’s stock after buying an additional 377 shares during the quarter. HHM Wealth Advisors LLC’s holdings in Meta Platforms were worth $804,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Delos Wealth Advisors LLC boosted its stake in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. boosted its stake in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in Meta Platforms by 95.6% in the first 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 in the last quarter. Finally, Quest Partners LLC acquired a new stake in Meta Platforms in the fourth quarter valued at approximately $32,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on META shares. Oppenheimer raised their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Stifel Nicolaus raised their target price on shares of Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays lifted their price objective on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Citigroup lifted their price objective on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus price target of $577.26.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,054 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $501.05, for a total value of $1,029,156.70. Following the transaction, the chief executive officer now directly owns 253,000 shares in the company, valued at approximately $126,765,650. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $502.00, for a total transaction of $206,824.00. Following the sale, the chief operating officer now directly owns 7,619 shares in the company, valued at approximately $3,824,738. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 2,054 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $501.05, for a total transaction of $1,029,156.70. Following the sale, the chief executive officer now owns 253,000 shares in the company, valued at $126,765,650. The disclosure for this sale can be found here. In the last three months, insiders have sold 357,574 shares of company stock worth $185,587,773. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Down 0.2 %

Shares of NASDAQ META opened at $524.62 on Friday. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23. The stock has a market cap of $1.33 trillion, a PE ratio of 30.13, a P/E/G ratio of 1.26 and a beta of 1.21. 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 company has a 50-day moving average of $505.13 and a 200 day moving average of $495.43.

Meta Platforms (NASDAQ:META) last announced 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 company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.23 EPS. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.38%. Meta Platforms’s payout ratio is 11.49%.

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.