Meta Platforms, Inc. (NASDAQ:META) Shares Bought by RPg Family Wealth Advisory LLC

RPg Family Wealth Advisory LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,519 shares of the social networking company’s stock after purchasing an additional 199 shares during the quarter. Meta Platforms makes up approximately 2.7% of RPg Family Wealth Advisory LLC’s portfolio, making the stock its 6th largest holding. RPg Family Wealth Advisory LLC’s holdings in Meta Platforms were worth $8,329,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Delos Wealth Advisors LLC raised its stake in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after purchasing an additional 58 shares during the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. raised its position in shares of Meta Platforms by 122.2% in the second 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 last quarter. Richardson Financial Services Inc. lifted its stake in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the period. Finally, Quest Partners LLC acquired a new stake in Meta Platforms during the fourth quarter worth approximately $32,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Morgan Stanley increased their price target on Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised their price target on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their price target on Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Jefferies Financial Group increased their price objective on shares of Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, KeyCorp boosted their target price on shares of Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 9,760 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $502.87, for a total value of $4,908,011.20. Following the sale, the chief executive officer now owns 247,915 shares in the company, valued at approximately $124,669,016.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the sale, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 9,760 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 247,915 shares in the company, valued at $124,669,016.05. The disclosure for this sale can be found here. Insiders sold a total of 356,426 shares of company stock valued at $185,053,425 in the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 0.4 %

NASDAQ:META opened at $561.35 on Friday. The stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $564.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The business’s 50-day simple moving average is $506.33 and its 200 day simple moving average is $496.78.

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, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.23 EPS. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share 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 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is 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.