Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Angeles Investment Advisors LLC

Angeles Investment Advisors LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 31.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,819 shares of the social networking company’s stock after buying an additional 1,154 shares during the period. Angeles Investment Advisors LLC’s holdings in Meta Platforms were worth $2,430,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vantage Financial Partners LLC grew its holdings in 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 acquiring an additional 41 shares during the period. Concentrum Wealth Management grew its stake in shares of Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the period. Aveo Capital Partners LLC increased its holdings in shares of Meta Platforms by 45.7% during the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock valued at $815,000 after purchasing an additional 722 shares in the last quarter. 9258 Wealth Management LLC grew its stake in Meta Platforms by 66.4% in the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock valued at $1,413,000 after acquiring an additional 1,594 shares during the period. Finally, Rollins Financial increased its holdings in Meta Platforms by 7.5% in the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock worth $10,851,000 after acquiring an additional 2,133 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95. Following the sale, the insider now directly owns 38,750 shares of the company’s stock, valued at approximately $19,258,362.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Mark Zuckerberg sold 2,054 shares of Meta Platforms stock in a transaction dated 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 transaction, the chief executive officer now owns 253,000 shares in the company, valued at approximately $126,765,650. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95. Following the sale, the insider now owns 38,750 shares in the company, valued at $19,258,362.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 357,575 shares of company stock valued at $185,595,945. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 0.3 %

Shares of NASDAQ META opened at $537.95 on Thursday. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $505.40 and its two-hundred day moving average is $496.34. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $544.23. The firm has a market cap of $1.36 trillion, a price-to-earnings ratio of 30.90, a PEG ratio of 1.26 and a beta of 1.21.

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

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Ratings Changes

META has been the topic of several research analyst reports. Cantor Fitzgerald assumed coverage on shares of Meta Platforms in a research report on Thursday, September 5th. They issued an “overweight” rating and a $660.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Wednesday, July 24th. UBS Group increased their target price on Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Tigress Financial lifted their price target on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Finally, Rosenblatt Securities boosted their price target on Meta Platforms from $562.00 to $643.00 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 assigned a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

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.