DHK Financial Advisors Inc. Acquires Shares of 500 Meta Platforms, Inc. (NASDAQ:META)

DHK Financial Advisors Inc. bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 500 shares of the social networking company’s stock, valued at approximately $252,000.

A number of other institutional investors also recently modified their holdings of META. Capital Research Global Investors increased its position in shares of Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares during the period. Concentrum Wealth Management increased its holdings in Meta Platforms by 111.0% in the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after buying an additional 3,888,308 shares during the period. Vanguard Group Inc. raised its position in shares of Meta Platforms by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after buying an additional 3,104,550 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after acquiring an additional 2,748,620 shares during the period. Finally, Sustainable Growth Advisers LP acquired a new stake in shares of Meta Platforms during the 2nd quarter worth approximately $595,152,000. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on META shares. TD Securities upped their target price on Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. Tigress Financial upped their price objective on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Bank of America raised their price objective on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their target price on Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Raymond James raised their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research note on Monday, July 1st. Two 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $577.26.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 9,760 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $502.87, for a total transaction of $4,908,011.20. Following the completion of the sale, the chief executive officer now owns 247,915 shares in the company, valued at $124,669,016.05. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Mark Zuckerberg sold 9,760 shares of Meta Platforms stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $502.87, for a total transaction of $4,908,011.20. Following the completion of the transaction, the chief executive officer now directly owns 247,915 shares in the company, valued at $124,669,016.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95. Following the sale, the insider now directly owns 38,750 shares of the company’s stock, valued at $19,258,362.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 356,426 shares of company stock worth $185,053,425. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $559.10 on Friday. The stock’s 50 day moving average price is $505.40 and its two-hundred day moving average price is $496.34. The stock has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 32.11, a PEG ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $562.07.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period 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, equities 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. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

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.