Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Schneider Downs Wealth Management Advisors LP

Schneider Downs Wealth Management Advisors LP cut its stake in Meta Platforms, Inc. (NASDAQ:META) by 18.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 434 shares of the social networking company’s stock after selling 96 shares during the period. Schneider Downs Wealth Management Advisors LP’s holdings in Meta Platforms were worth $219,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC increased its position in Meta Platforms by 31.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,594 shares of the social networking company’s stock worth $804,000 after buying an additional 377 shares during the period. VitalStone Financial LLC grew its stake in shares of Meta Platforms by 5.9% in the second quarter. VitalStone Financial LLC now owns 893 shares of the social networking company’s stock worth $450,000 after purchasing an additional 50 shares in the last quarter. Marco Investment Management LLC grew its stake in shares of Meta Platforms by 1.1% in the second quarter. Marco Investment Management LLC now owns 11,528 shares of the social networking company’s stock worth $5,813,000 after purchasing an additional 127 shares in the last quarter. Greenwood Gearhart Inc. grew its stake in shares of Meta Platforms by 0.8% in the second quarter. Greenwood Gearhart Inc. now owns 25,600 shares of the social networking company’s stock worth $12,908,000 after purchasing an additional 207 shares in the last quarter. Finally, Biltmore Family Office LLC grew its stake in shares of Meta Platforms by 1.8% in the second quarter. Biltmore Family Office LLC now owns 2,945 shares of the social networking company’s stock worth $1,485,000 after purchasing an additional 52 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on META. Stifel Nicolaus increased their price target on Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Susquehanna increased their price target on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Roth Mkm raised their target price on Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research note on Thursday, August 1st. Finally, Rosenblatt Securities raised their target price on Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two equities research 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

Meta Platforms Stock Down 0.2 %

META opened at $524.62 on Friday. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The business has a 50-day moving average of $505.13 and a 200-day moving average of $495.43. 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 company 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 quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same period last year, the business earned $3.23 EPS. The business’s quarterly revenue was up 22.1% on a year-over-year basis. Equities research analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insider Activity

In other news, CEO Mark Zuckerberg sold 2,054 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 253,000 shares of the company’s stock, valued at approximately $126,765,650. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $507.63, for a total value of $459,405.15. Following the transaction, the insider now directly owns 37,817 shares of the company’s stock, valued at approximately $19,197,043.71. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 2,054 shares of the business’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 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 quarter, insiders have sold 357,574 shares of company stock valued at $185,587,773. Insiders own 13.71% of the company’s stock.

About Meta Platforms

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.