Prosperity Consulting Group LLC Buys 146 Shares of Meta Platforms, Inc. (NASDAQ:META)

Prosperity Consulting Group LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,510 shares of the social networking company’s stock after purchasing an additional 146 shares during the period. Prosperity Consulting Group LLC’s holdings in Meta Platforms were worth $3,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vantage Financial Partners LLC increased its holdings in Meta Platforms by 3.2% in the 4th quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after acquiring an additional 41 shares in the last quarter. Concentrum Wealth Management increased its stake in shares of Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares in the last quarter. Aveo Capital Partners LLC increased its stake in shares of Meta Platforms by 45.7% in the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after purchasing an additional 722 shares in the last quarter. 9258 Wealth Management LLC raised its position in shares of Meta Platforms by 66.4% during the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock valued at $1,413,000 after purchasing an additional 1,594 shares during the period. Finally, Rollins Financial lifted its stake in shares of Meta Platforms by 7.5% during the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after buying an additional 2,133 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $520.57, for a total transaction of $214,995.41. Following the sale, the chief operating officer now owns 13,185 shares in the company, valued at $6,863,715.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 2,054 shares of the firm’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 transaction of $1,029,156.70. Following the completion of the transaction, the chief executive officer now directly owns 253,000 shares of the company’s stock, valued at approximately $126,765,650. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $520.57, for a total transaction of $214,995.41. Following the transaction, the chief operating officer now owns 13,185 shares of the company’s stock, valued at $6,863,715.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 357,987 shares of company stock valued at $185,802,769. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Up 0.6 %

Shares of NASDAQ:META opened at $536.32 on Wednesday. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $544.23. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $505.34 and its 200 day moving average is $496.05. The stock has a market cap of $1.36 trillion, a P/E ratio of 30.80, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data 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 firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same period last year, the firm earned $3.23 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. Sell-side analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date is Monday, September 16th. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analysts Forecast Growth

META has been the topic of a number of recent analyst reports. Raymond James raised their price target on Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a report on Monday, July 1st. TD Securities boosted their price target on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Susquehanna raised their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research note on Thursday, August 1st. JMP Securities reissued a “market outperform” rating and set a $525.00 price objective on shares of Meta Platforms in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. lifted their target price on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” 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 assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average target price of $577.26.

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.