Madison Wealth Partners Inc Has $698,000 Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Madison Wealth Partners Inc lessened its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 7.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,385 shares of the social networking company’s stock after selling 110 shares during the quarter. Madison Wealth Partners Inc’s holdings in Meta Platforms were worth $698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of META. Capital Research Global Investors boosted its stake in Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after buying an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management lifted its holdings 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 acquiring an additional 3,888,308 shares during the period. Vanguard Group Inc. boosted its position in shares of Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after acquiring an additional 3,104,550 shares in the last quarter. Jennison Associates LLC increased its stake in Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares during the period. Finally, Sustainable Growth Advisers LP acquired a new position in Meta Platforms in the second quarter worth about $595,152,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Stock Performance

META stock opened at $559.10 on Friday. 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, Inc. has a twelve month low of $279.40 and a twelve month high of $562.07. The business’s fifty day moving average is $505.40 and its 200-day moving average is $496.34. The company has a market cap of $1.42 trillion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its earnings results 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. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.23 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed 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. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on META shares. TD Cowen lifted their price objective on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Barclays boosted their price target on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wolfe Research started coverage on Meta Platforms in a research note on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of Meta Platforms in a research note on Thursday, September 5th. They issued an “overweight” rating and a $660.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research report on Wednesday, July 24th. Two 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 given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $577.26.

Insider Activity at Meta Platforms

In other news, CEO Mark Zuckerberg sold 9,760 shares of Meta Platforms stock in a transaction on Monday, June 24th. The shares were sold at an average price of $502.87, for a total transaction of $4,908,011.20. Following the transaction, the chief executive officer now directly owns 247,915 shares of the company’s stock, valued at $124,669,016.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $537.72, for a total value of $486,636.60. Following the completion of the transaction, the insider now directly owns 36,912 shares of the company’s stock, valued at $19,848,320.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 9,760 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $502.87, for a total value of $4,908,011.20. Following the sale, the chief executive officer now directly owns 247,915 shares in the company, valued at approximately $124,669,016.05. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 356,426 shares of company stock worth $185,053,425. 13.71% of the stock is currently owned by company insiders.

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.