Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Brighton Jones LLC

Brighton Jones LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 8.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 40,351 shares of the social networking company’s stock after buying an additional 3,276 shares during the period. Meta Platforms comprises approximately 0.7% of Brighton Jones LLC’s holdings, making the stock its 24th biggest position. Brighton Jones LLC’s holdings in Meta Platforms were worth $20,346,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of META. Capital Research Global Investors grew its holdings in shares of Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after purchasing an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management boosted its position in Meta Platforms by 111.0% during 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 purchasing an additional 3,888,308 shares during the period. Vanguard Group Inc. grew its stake in Meta Platforms by 1.7% during the 4th 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 during the last quarter. Jennison Associates LLC increased its position in Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after buying an additional 2,748,620 shares during the period. Finally, Sustainable Growth Advisers LP bought a new stake in Meta Platforms in the second quarter valued at $595,152,000. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Cantor Fitzgerald assumed coverage on shares of Meta Platforms in a research note on Thursday, September 5th. They issued an “overweight” rating and a $660.00 price target on the stock. TD Securities boosted their price objective on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Susquehanna increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a research note on Wednesday, June 12th. Two investment 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $577.26.

Meta Platforms Trading Up 0.4 %

Meta Platforms stock opened at $561.35 on Friday. The company has a 50 day moving average price of $507.58 and a 200 day moving average price of $497.22. 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 $564.50. The firm has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 1.26 and a beta of 1.21.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend 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 is 11.49%.

Insider Transactions at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value 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 approximately $39,285,234.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The disclosure for this sale can be found here. Insiders sold 356,426 shares of company stock valued at $185,053,425 over the last three months. 13.71% of the stock is owned by corporate insiders.

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.