SYSTM Wealth Solutions LLC Lowers Stock Position in Meta Platforms, Inc. (NASDAQ:META)

SYSTM Wealth Solutions LLC lessened its stake in Meta Platforms, Inc. (NASDAQ:META) by 24.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,328 shares of the social networking company’s stock after selling 2,096 shares during the period. SYSTM Wealth Solutions LLC’s holdings in Meta Platforms were worth $3,191,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in META. Capital Research Global Investors boosted its holdings in shares of Meta Platforms by 17.2% in the 4th 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 in the last quarter. Concentrum Wealth Management lifted its position 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 worth $2,616,000 after buying an additional 3,888,308 shares during the last quarter. Vanguard Group Inc. boosted its stake in Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after buying an additional 3,104,550 shares in the last quarter. Jennison Associates LLC grew its position in Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares during the last quarter. Finally, Sustainable Growth Advisers LP purchased a new position in shares of Meta Platforms during the second quarter worth approximately $595,152,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Wells Fargo & Company raised their price objective on Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research note on Thursday, August 1st. Stifel Nicolaus raised their price target on Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Oppenheimer boosted their price objective on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research 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 issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $577.26.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $4,908,011.20. Following the transaction, the chief executive officer now owns 247,915 shares in the company, valued at approximately $124,669,016.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 356,426 shares of company stock valued at $185,053,425. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of META opened at $561.35 on Friday. 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 stock has a market cap of $1.42 trillion, a P/E ratio of 32.24, a P/E/G ratio of 1.26 and a beta of 1.21. The business’s 50 day moving average price is $506.33 and its 200-day moving average price is $496.78. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $564.50.

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

Meta Platforms Announces Dividend

The company 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 is currently 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.