Fairway Wealth LLC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

Fairway Wealth LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 187 shares of the social networking company’s stock, valued at approximately $94,000.

Several other hedge funds have also recently modified their holdings of META. Delos Wealth Advisors LLC lifted its stake in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the period. POM Investment Strategies LLC purchased a new position in Meta Platforms during the second quarter worth about $38,000. Ruedi Wealth Management Inc. lifted its position in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares during the period. Richardson Financial Services Inc. lifted its position in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the period. Finally, Quest Partners LLC purchased a new stake in Meta Platforms in the 4th quarter valued at approximately $32,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total value of $486,636.60. Following the transaction, the insider now owns 36,912 shares of the company’s stock, valued at approximately $19,848,320.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Insiders sold a total of 356,426 shares of company stock worth $185,053,425 in the last ninety days. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ META 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. The company has a market capitalization of $1.42 trillion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The business’s 50-day moving average price is $505.40 and its 200 day moving average price is $496.34. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $562.07.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (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 business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the company earned $3.23 earnings per share. The company’s quarterly revenue was up 22.1% on a year-over-year basis. On average, research analysts predict that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders 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 dividend yield of 0.36%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Guggenheim raised their price target on Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley raised their target price on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. UBS Group boosted their target price on shares of Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Susquehanna increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Finally, Citigroup boosted their price objective on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, August 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 given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $577.26.

Meta Platforms 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.