Ullmann Wealth Partners Group LLC Buys 78 Shares of Meta Platforms, Inc. (NASDAQ:META)

Ullmann Wealth Partners Group LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,918 shares of the social networking company’s stock after purchasing an additional 78 shares during the period. Ullmann Wealth Partners Group LLC’s holdings in Meta Platforms were worth $967,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Oppenheimer & Co. Inc. boosted its position in shares of Meta Platforms by 6.7% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 153,058 shares of the social networking company’s stock worth $77,175,000 after purchasing an additional 9,588 shares during the last quarter. D Orazio & Associates Inc. boosted its position in shares of Meta Platforms by 6.0% in the 2nd quarter. D Orazio & Associates Inc. now owns 3,742 shares of the social networking company’s stock worth $1,887,000 after purchasing an additional 213 shares during the last quarter. Gruss & Co. LLC boosted its position in shares of Meta Platforms by 28.6% in the 2nd quarter. Gruss & Co. LLC now owns 4,500 shares of the social networking company’s stock worth $2,269,000 after purchasing an additional 1,000 shares during the last quarter. Vest Financial LLC boosted its position in shares of Meta Platforms by 3.8% in the 2nd quarter. Vest Financial LLC now owns 3,056 shares of the social networking company’s stock worth $1,541,000 after purchasing an additional 112 shares during the last quarter. Finally, Lansing Street Advisors lifted its holdings in Meta Platforms by 17.7% during the second quarter. Lansing Street Advisors now owns 718 shares of the social networking company’s stock worth $362,000 after acquiring an additional 108 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Trading Down 0.2 %

Shares of NASDAQ:META opened at $524.62 on Monday. Meta Platforms, Inc. has a 12-month low of $279.40 and a 12-month high of $544.23. The stock has a market cap of $1.33 trillion, a PE ratio of 30.13, a P/E/G ratio of 1.26 and a beta of 1.21. The business has a 50 day moving average of $505.13 and a 200-day moving average of $495.51. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the company posted $3.23 earnings per share. The business’s revenue was up 22.1% on a year-over-year basis. As a group, equities research analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current 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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analysts Set New Price Targets

META has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Truist Financial lifted their target price on Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Piper Sandler lifted their target price on Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Robert W. Baird lifted their target price on Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Finally, Raymond James lifted their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday, July 1st. Two 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 issued a strong buy rating to the stock. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $577.26.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the sale, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The disclosure for this sale can be found here. Insiders sold a total of 357,574 shares of company stock worth $185,587,773 over the last quarter. Company insiders own 13.71% of the company’s stock.

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.