University of Texas Texas AM Investment Management Co. Purchases 1,024 Shares of Meta Platforms, Inc. (NASDAQ:META)

University of Texas Texas AM Investment Management Co. increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,495 shares of the social networking company’s stock after acquiring an additional 1,024 shares during the quarter. Meta Platforms comprises about 1.4% of University of Texas Texas AM Investment Management Co.’s investment portfolio, making the stock its 13th largest holding. University of Texas Texas AM Investment Management Co.’s holdings in Meta Platforms were worth $7,309,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Delos Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. increased its stake 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 during the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Meta Platforms by 95.6% during the 1st 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 in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of Meta Platforms during the 1st quarter worth $44,000. Institutional investors own 79.91% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on META shares. JMP Securities boosted their target price on Meta Platforms from $550.00 to $635.00 and gave the stock a “market outperform” rating in a research note on Thursday, September 26th. Morgan Stanley raised their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Truist Financial upped their price target on shares of Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus raised their price objective on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Oppenheimer boosted 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. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $597.95.

Meta Platforms Stock Performance

META opened at $576.47 on Wednesday. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $583.04. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 33.11, a PEG ratio of 1.39 and a beta of 1.21. The company’s fifty day moving average price is $519.65 and its two-hundred day moving average price is $500.85. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.23 EPS. On average, analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Insider Activity at Meta Platforms

In related news, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, September 27th. The stock was sold at an average price of $570.00, for a total value of $235,410.00. Following the completion of the transaction, the chief operating officer now directly owns 12,359 shares in the company, valued at approximately $7,044,630. The disclosure for this sale can be found here. In the last three months, insiders sold 308,462 shares of company stock valued at $162,308,065. 13.71% of the stock is owned by insiders.

Meta Platforms Company 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.