Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Frisch Financial Group Inc.

Frisch Financial Group Inc. decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,868 shares of the social networking company’s stock after selling 111 shares during the period. Meta Platforms comprises approximately 0.7% of Frisch Financial Group Inc.’s holdings, making the stock its 25th biggest holding. Frisch Financial Group Inc.’s holdings in Meta Platforms were worth $2,455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of META. Baird Financial Group Inc. grew its stake in Meta Platforms by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after purchasing an additional 163,067 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Meta Platforms by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after purchasing an additional 51,900 shares during the period. Voyager Global Management LP increased its position in Meta Platforms by 37.3% in the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after buying an additional 140,000 shares during the period. Gradient Investments LLC lifted its position in Meta Platforms by 8.9% in the 2nd quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after purchasing an additional 5,953 shares during the last quarter. Finally, Baillie Gifford & Co. raised its holdings in shares of Meta Platforms by 14.0% during the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock valued at $2,962,767,000 after buying an additional 748,076 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on META shares. TD Cowen lifted their price objective on shares of Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft increased their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research note on Wednesday, July 24th. Susquehanna raised their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Finally, Rosenblatt Securities raised their price target on shares of Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two 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 issued a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $577.26.

Meta Platforms Trading Up 3.9 %

Shares of Meta Platforms stock opened at $559.10 on Friday. 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, Inc. has a 1 year low of $279.40 and a 1 year high of $562.07. The company’s fifty day simple moving average is $505.40 and its 200-day simple moving average is $496.34. The company has a market cap of $1.42 trillion, a price-to-earnings ratio of 32.11, a PEG ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 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 the consensus estimate of $38.26 billion. During the same quarter last year, the company earned $3.23 EPS. The company’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, sell-side analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.36%. The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 9,760 shares of the company’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on 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 owns 36,912 shares in the company, valued at approximately $19,848,320.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 9,760 shares of the stock in a transaction on 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 owns 247,915 shares in the company, valued at approximately $124,669,016.05. The disclosure for this sale can be found here. Insiders sold a total of 356,426 shares of company stock worth $185,053,425 over the last quarter. Company insiders own 13.71% of the company’s stock.

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.