Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Valley Wealth Managers Inc.

Valley Wealth Managers Inc. boosted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 31.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,047 shares of the social networking company’s stock after purchasing an additional 248 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Meta Platforms were worth $528,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in Meta Platforms in the 4th quarter worth about $32,000. Clear Investment Research LLC increased its position in Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the period. Delos Wealth Advisors LLC raised its stake in Meta Platforms by 527.3% during the 1st 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 bought a new position in shares of Meta Platforms in the second quarter worth $38,000. Finally, Ruedi Wealth Management Inc. increased its holdings in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ:META opened at $533.28 on Tuesday. The company has a market cap of $1.35 trillion, a price-to-earnings ratio of 30.63, a PEG ratio of 1.26 and a beta of 1.21. The business has a 50 day moving average price of $505.21 and a 200 day moving average price of $495.81. 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 twelve month low of $279.40 and a twelve month high of $544.23.

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

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be paid 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 yield of 0.38%. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Buying and Selling 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 10th. The stock was sold at an average price of $507.63, for a total transaction of $459,405.15. Following the sale, the insider now directly owns 37,817 shares in the company, valued at $19,197,043.71. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $463.00, for a total transaction of $190,756.00. Following the completion of the transaction, the chief operating officer now owns 5,559 shares in the company, valued at approximately $2,573,817. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $507.63, for a total value of $459,405.15. Following the completion of the sale, the insider now owns 37,817 shares in the company, valued at $19,197,043.71. The disclosure for this sale can be found here. Insiders sold a total of 357,574 shares of company stock valued at $185,587,773 in the last quarter. Corporate insiders own 13.71% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on META shares. Rosenblatt Securities increased their target price on shares of Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Cantor Fitzgerald began coverage on shares of Meta Platforms in a report on Thursday, September 5th. They issued an “overweight” rating and a $660.00 price objective for the company. Piper Sandler boosted their target price on Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Raymond James increased their price target on Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research note on Monday, July 1st. Finally, Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

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.