Bulltick Wealth Management LLC Acquires 1,594 Shares of Meta Platforms, Inc. (NASDAQ:META)

Bulltick Wealth Management LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 33.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,304 shares of the social networking company’s stock after buying an additional 1,594 shares during the period. Bulltick Wealth Management LLC’s holdings in Meta Platforms were worth $3,179,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Quest Partners LLC acquired a new position in shares of Meta Platforms in the 4th quarter valued at approximately $32,000. Clear Investment Research LLC increased its stake in Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Delos Wealth Advisors LLC raised its position 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 valued at $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC bought a new stake in Meta Platforms during the second quarter worth $38,000. Finally, Ruedi Wealth Management Inc. boosted its holdings in shares of 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 purchasing an additional 44 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on META. Oppenheimer upped their price objective on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report 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 report on Thursday, August 1st. KeyCorp lifted their price target 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. Tigress Financial increased their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Finally, Citigroup boosted their target price on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two equities 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 issued a strong buy rating to the company. According to data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average price target of $577.26.

Meta Platforms Trading Up 0.4 %

NASDAQ META opened at $561.35 on Monday. The stock has a market capitalization 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 has a 50 day simple moving average of $507.58 and a 200 day simple moving average of $497.27. 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 $564.50.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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 net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the firm posted $3.23 EPS. The company’s quarterly revenue was up 22.1% on a year-over-year basis. Research analysts expect that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend 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%.

Insider Activity

In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 230,461 shares of the company’s stock, valued at approximately $117,737,915.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction 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 directly owns 230,461 shares in the company, valued at approximately $117,737,915.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $514.41, for a total transaction of $211,936.92. Following the sale, the chief operating officer now owns 7,207 shares of the company’s stock, valued at approximately $3,707,352.87. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 346,666 shares of company stock worth $180,145,414. Company insiders own 13.71% of the company’s stock.

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.