Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 692.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 48,464 shares of the social networking company’s stock after acquiring an additional 42,347 shares during the period. Meta Platforms makes up 1.7% of Frank Rimerman Advisors LLC’s investment portfolio, making the stock its 13th largest holding. Frank Rimerman Advisors LLC’s holdings in Meta Platforms were worth $24,437,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in META. Delos Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 527.3% in 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 during the period. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. raised its holdings in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Richardson Financial Services Inc. boosted its position in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares in the last quarter. Finally, Quest Partners LLC acquired a new stake in Meta Platforms in the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on META shares. Guggenheim boosted their price objective on shares of Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Truist Financial increased their price target on shares of Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft upped their target price on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company raised their price target on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Susquehanna upped their price objective on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $578.92.

Meta Platforms Stock Performance

Shares of META opened at $564.41 on Tuesday. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $573.98. 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 firm has a market cap of $1.43 trillion, a price-to-earnings ratio of 32.42, a PEG ratio of 1.26 and a beta of 1.21. The business’s 50 day moving average is $507.58 and its two-hundred day moving average is $497.28.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.23 EPS. Analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Buying and Selling at Meta Platforms

In other news, insider Christopher K. Cox sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the transaction, the insider now owns 338,662 shares in the company, valued at $188,810,838.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Christopher K. Cox sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $557.52, for a total transaction of $11,150,400.00. Following the completion of the transaction, the insider now directly owns 338,662 shares in the company, valued at $188,810,838.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total value of $486,636.60. Following the completion of the sale, the insider now owns 36,912 shares in the company, valued at $19,848,320.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 365,761 shares of company stock worth $190,846,038. 13.71% of the stock is owned by insiders.

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.