Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Private Wealth Partners LLC

Private Wealth Partners LLC boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 32.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 7,168 shares of the social networking company’s stock after acquiring an additional 1,771 shares during the period. Private Wealth Partners LLC’s holdings in Meta Platforms were worth $3,614,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of META. Vantage Financial Partners LLC grew its holdings in shares of Meta Platforms by 3.2% during the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after buying an additional 41 shares in the last quarter. Concentrum Wealth Management grew its holdings in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares in the last quarter. Aveo Capital Partners LLC grew its holdings in shares of Meta Platforms by 45.7% during the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after buying an additional 722 shares in the last quarter. 9258 Wealth Management LLC grew its holdings in shares of Meta Platforms by 66.4% during the fourth quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock worth $1,413,000 after buying an additional 1,594 shares in the last quarter. Finally, Rollins Financial grew its holdings in shares of Meta Platforms by 7.5% in the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after purchasing an additional 2,133 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $524.62 on Monday. The stock has a market cap of $1.33 trillion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The company has a fifty day simple moving average of $505.13 and a 200-day simple moving average of $495.51. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23. 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 announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping 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 analyst estimates of $38.26 billion. During the same period last year, the business earned $3.23 EPS. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities 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 will be paid on Thursday, September 26th. Investors 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 0.38%. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. TD Securities upped their price objective on shares of Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Wednesday, July 24th. Cantor Fitzgerald assumed coverage on shares of Meta Platforms in a report on Thursday, September 5th. They issued an “overweight” rating and a $660.00 price objective for the company. Finally, BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price objective on shares of Meta Platforms in a report on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus target price of $577.26.

Insider Buying and Selling

In related news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the transaction, the insider now owns 33,324 shares in the company, valued at $15,034,122.60. The disclosure for this sale can be found here. Insiders have sold 357,574 shares of company stock worth $185,587,773 in the last ninety days. 13.71% of the stock is owned by corporate 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.