400 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Intrepid Financial Planning Group LLC

Intrepid Financial Planning Group LLC bought a new stake in Meta Platforms, Inc. (NASDAQ:META) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 400 shares of the social networking company’s stock, valued at approximately $202,000.

Several other institutional investors also recently added to or reduced their stakes in META. Capital Research Global Investors increased its position 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 acquiring an additional 4,440,229 shares during the period. Concentrum Wealth Management increased 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 purchasing an additional 3,888,308 shares during the period. Vanguard Group Inc. raised its position in shares of Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after buying an additional 3,104,550 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of 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 buying an additional 2,748,620 shares during the period. Finally, Sustainable Growth Advisers LP acquired a new stake in Meta Platforms during the second quarter worth about $595,152,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

META opened at $561.35 on Friday. The company has a fifty day moving average price of $507.58 and a two-hundred day moving average price of $497.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market capitalization of $1.42 trillion, a PE ratio of 32.24, a P/E/G ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $564.50.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating 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 business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the prior year, the company posted $3.23 earnings per share. The firm’s revenue was up 22.1% on a year-over-year basis. As a group, analysts anticipate 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. 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 is Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 9,760 shares of the stock in a transaction on Monday, June 24th. The shares were 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 $124,669,016.05. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 9,760 shares of the 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 completion of the sale, the chief executive officer now directly owns 247,915 shares in the company, valued at $124,669,016.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated 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 in the company, valued at approximately $19,848,320.64. 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.

Analysts Set New Price Targets

A number of brokerages have commented on META. Loop Capital raised their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Barclays lifted their price target on shares of Meta Platforms from $520.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. BMO Capital Markets reissued a “market perform” rating and issued a $450.00 price target on shares of Meta Platforms in a report on Wednesday, June 12th. Citigroup raised 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. Finally, Evercore ISI upped their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus 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.