Fiduciary Planning LLC Sells 274 Shares of Meta Platforms, Inc. (NASDAQ:META)

Fiduciary Planning LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 18.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,175 shares of the social networking company’s stock after selling 274 shares during the quarter. Fiduciary Planning LLC’s holdings in Meta Platforms were worth $592,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. S.A. Mason LLC increased its holdings in Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after purchasing an additional 20 shares in the last quarter. Horizon Bancorp Inc. IN grew its holdings in Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after buying an additional 21 shares in the last quarter. Northern Capital Management Inc. raised its position in Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after buying an additional 21 shares during the last quarter. Buckingham Capital Management Inc. lifted its stake in Meta Platforms by 5.1% during the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after acquiring an additional 21 shares in the last quarter. Finally, LongView Wealth Management lifted its stake in Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In related news, CEO Mark Zuckerberg sold 2,054 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $501.05, for a total value of $1,029,156.70. Following the completion of the sale, the chief executive officer now owns 253,000 shares in the company, valued at approximately $126,765,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $502.00, for a total value of $206,824.00. Following the transaction, the chief operating officer now owns 7,619 shares in the company, valued at approximately $3,824,738. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark Zuckerberg sold 2,054 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $501.05, for a total transaction of $1,029,156.70. Following the sale, the chief executive officer now owns 253,000 shares of the company’s stock, valued at $126,765,650. The disclosure for this sale can be found here. In the last three months, insiders have sold 357,574 shares of company stock worth $185,587,773. 13.71% of the stock is currently owned by insiders.

Meta Platforms Trading Up 2.7 %

Shares of META opened at $525.60 on Friday. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23. The company has a market capitalization of $1.33 trillion, a P/E ratio of 30.19, a P/E/G ratio of 1.23 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The firm’s 50 day simple moving average is $505.44 and its 200 day simple moving average is $495.07.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating 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 firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the company posted $3.23 EPS. The business’s quarterly revenue was up 22.1% on a year-over-year basis. Sell-side analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on META. The Goldman Sachs Group increased their target price on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Rosenblatt Securities lifted their target price on shares of Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. UBS Group boosted their target price on Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Guggenheim lifted their price target on Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Bank of America boosted their price objective on Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research report 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 issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

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.