Meta Platforms, Inc. (NASDAQ:META) Holdings Decreased by GM Advisory Group LLC

GM Advisory Group LLC reduced its holdings in Meta Platforms, Inc. (NASDAQ:META) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,032 shares of the social networking company’s stock after selling 314 shares during the period. GM Advisory Group LLC’s holdings in Meta Platforms were worth $7,075,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Vantage Financial Partners LLC increased its stake in Meta Platforms by 3.2% in the 4th quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after buying an additional 41 shares during the period. Concentrum Wealth Management increased its stake in shares of Meta Platforms by 111.0% in the fourth 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 last quarter. Aveo Capital Partners LLC raised its holdings in shares of Meta Platforms by 45.7% during the fourth quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock worth $815,000 after acquiring an additional 722 shares in the last quarter. 9258 Wealth Management LLC boosted its position in Meta Platforms by 66.4% during the fourth quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock valued at $1,413,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Rollins Financial grew its stake in Meta Platforms by 7.5% in the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after purchasing an additional 2,133 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

Shares of META stock opened at $561.35 on Friday. The stock’s fifty day simple moving average is $507.58 and its 200 day simple moving average is $497.22. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $564.50. The firm has a market cap of $1.42 trillion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share 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 analyst estimates of $38.26 billion. During the same quarter in the prior year, the firm earned $3.23 EPS. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, analysts expect that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal 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 issued a dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s dividend payout ratio is 11.49%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on META shares. JPMorgan Chase & Co. raised their price target on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group raised their price objective on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Oppenheimer boosted their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Bank of America raised their price target on shares of Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Jefferies Financial Group upped their price objective on shares of Meta Platforms from $565.00 to $600.00 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 given a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $577.26.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total value of $449,775.95. Following the completion of the transaction, the insider now directly owns 38,750 shares of the company’s stock, valued at $19,258,362.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $536.92, for a total transaction of $221,747.96. Following the transaction, the chief operating officer now owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total value of $449,775.95. Following the completion of the sale, the insider now directly owns 38,750 shares of the company’s stock, valued at $19,258,362.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 356,426 shares of company stock valued at $185,053,425. 13.71% of the stock is currently owned by corporate insiders.

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.