Wealthspire Advisors LLC Buys 2,676 Shares of Meta Platforms, Inc. (NASDAQ:META)

Wealthspire Advisors LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 15.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,678 shares of the social networking company’s stock after buying an additional 2,676 shares during the period. Wealthspire Advisors LLC’s holdings in Meta Platforms were worth $9,922,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of META. Quest Partners LLC purchased a new stake in shares of Meta Platforms in the 4th quarter worth approximately $32,000. Clear Investment Research LLC increased its holdings in shares of Meta Platforms by 411.1% during the fourth 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 in the last quarter. Delos Wealth Advisors LLC raised its position in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC bought a new position in Meta Platforms in the 2nd quarter worth about $38,000. Finally, Ruedi Wealth Management Inc. grew its position in Meta Platforms by 122.2% during the 2nd 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 last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares in the company, valued at approximately $62,254,449.63. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated 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 approximately $19,197,043.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The disclosure for this sale can be found here. Insiders have sold a total of 357,574 shares of company stock worth $185,587,773 over the last ninety days. Company insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on META shares. Sanford C. Bernstein upped their target price on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $525.00 price objective on shares of Meta Platforms in a research report on Tuesday, July 30th. Citigroup lifted their target price on Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. DA Davidson initiated coverage on Meta Platforms in a report on Tuesday, September 10th. They set a “buy” rating and a $600.00 price target on the stock. Finally, UBS Group lifted their price objective on Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a report 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $577.26.

Meta Platforms Stock Performance

NASDAQ META opened at $533.28 on Tuesday. The stock has a market capitalization of $1.35 trillion, a PE ratio of 30.63, a P/E/G ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23. The business has a 50 day simple moving average of $505.21 and a two-hundred day simple moving average of $495.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating 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 company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the prior year, the firm earned $3.23 earnings per share. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. On average, research analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders 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 payout ratio is currently 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.