Certified Advisory Corp Sells 27 Shares of Meta Platforms, Inc. (NASDAQ:META)

Certified Advisory Corp cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 819 shares of the social networking company’s stock after selling 27 shares during the quarter. Certified Advisory Corp’s holdings in Meta Platforms were worth $413,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baird Financial Group Inc. lifted its position in Meta Platforms by 24.2% in the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after acquiring an additional 163,067 shares in the last quarter. California State Teachers Retirement System lifted its position in Meta Platforms by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after acquiring an additional 51,900 shares in the last quarter. Voyager Global Management LP grew its position in Meta Platforms by 37.3% in the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after purchasing an additional 140,000 shares during the period. Gradient Investments LLC raised its stake in Meta Platforms by 8.9% during the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after buying an additional 5,953 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its holdings in shares of Meta Platforms by 14.0% during the 1st quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after buying an additional 748,076 shares during the period. 79.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Susan J. Li sold 8,950 shares of the business’s 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 transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The disclosure for this sale can be found here. Insiders have sold 365,761 shares of company stock valued at $190,846,038 over the last ninety days. 13.71% of the stock is owned by insiders.

Analyst Ratings Changes

META has been the subject of a number of research reports. Rosenblatt Securities upped their price objective on Meta Platforms from $562.00 to $643.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company increased their target price on Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a report on Wednesday, July 24th. Wolfe Research assumed coverage on Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 target price on the stock. Finally, Oppenheimer increased their target price on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” 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 assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $578.92.

Meta Platforms Trading Up 0.5 %

Shares of NASDAQ META opened at $564.41 on Tuesday. The business’s 50 day moving average is $507.58 and its two-hundred day moving average is $497.28. 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 1-year low of $279.40 and a 1-year high of $573.98. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 32.42, a PEG ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share 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 company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the previous year, the firm posted $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, research analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current 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 is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s payout ratio is currently 11.49%.

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.