Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by SRN Advisors LLC

SRN Advisors LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 127.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,547 shares of the social networking company’s stock after buying an additional 3,108 shares during the quarter. Meta Platforms accounts for 2.3% of SRN Advisors LLC’s investment portfolio, making the stock its 6th largest holding. SRN Advisors LLC’s holdings in Meta Platforms were worth $2,797,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Delos Wealth Advisors LLC increased its stake in 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 in the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. increased its stake in Meta Platforms by 122.2% during 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. Richardson Financial Services Inc. raised its holdings 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 buying an additional 43 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of Meta Platforms in the first quarter valued at $44,000. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. The Goldman Sachs Group boosted their price objective on Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Jefferies Financial Group raised their target price on Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Oppenheimer upped their price target on Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, TD Cowen raised their price objective on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-five have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Meta Platforms has a consensus rating of “Moderate Buy” and an average target price of $597.95.

Insider Activity at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at $62,254,449.63. The disclosure for this sale can be found here. Insiders have sold 308,462 shares of company stock worth $162,308,065 over the last ninety days. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Trading Up 0.7 %

META opened at $576.47 on Wednesday. The firm has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 33.11, a PEG ratio of 1.39 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $583.04. The business has a 50 day simple moving average of $519.65 and a two-hundred day simple moving average of $500.85. 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 (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion during 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%. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.23 earnings per share. Analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s payout ratio is presently 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.