Plancorp LLC Acquires 474 Shares of Meta Platforms, Inc. (NASDAQ:META)

Plancorp LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,451 shares of the social networking company’s stock after acquiring an additional 474 shares during the quarter. Plancorp LLC’s holdings in Meta Platforms were worth $7,286,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of META. Quest Partners LLC acquired a new stake in shares of Meta Platforms during the 4th quarter worth $32,000. Clear Investment Research LLC lifted its position in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares during the period. Delos Wealth Advisors LLC grew its stake in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms during the second quarter worth about $38,000. Finally, Ruedi Wealth Management Inc. increased its holdings in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on META. Loop Capital increased their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. TD Cowen lifted their price target on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Susquehanna upped their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Citigroup lifted their target price on Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Rosenblatt Securities increased their target price on shares of Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $577.26.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total value of $8,532,717.76. Following the transaction, the chief executive officer now owns 230,461 shares in the company, valued at $117,737,915.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the completion of the sale, the chief executive officer now owns 230,461 shares in the company, valued at approximately $117,737,915.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95. Following the completion of the transaction, the insider now directly owns 38,750 shares in the company, valued at $19,258,362.50. The disclosure for this sale can be found here. Insiders sold a total of 356,426 shares of company stock worth $185,053,425 in the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 3.9 %

NASDAQ META opened at $559.10 on Friday. The stock has a market capitalization of $1.42 trillion, a P/E ratio of 32.11, a P/E/G ratio of 1.26 and a beta of 1.21. The business has a 50 day simple moving average of $505.40 and a 200 day simple moving average of $496.34. 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, Inc. has a one year low of $279.40 and a one year high of $562.07.

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

Meta Platforms Dividend Announcement

The business 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 dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.