Delap Wealth Advisory LLC Sells 4,242 Shares of Meta Platforms, Inc. (NASDAQ:META)

Delap Wealth Advisory LLC cut its position in Meta Platforms, Inc. (NASDAQ:META) by 90.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 440 shares of the social networking company’s stock after selling 4,242 shares during the period. Delap Wealth Advisory LLC’s holdings in Meta Platforms were worth $222,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Delos Wealth Advisors LLC increased its holdings in 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 buying an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. grew its stake in shares of Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. Richardson Financial Services Inc. raised its holdings in shares of Meta Platforms by 95.6% during 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 last quarter. Finally, Quest Partners LLC bought a new position in Meta Platforms during the fourth quarter valued at approximately $32,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Tigress Financial lifted their target price on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. Evercore ISI lifted their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Susquehanna increased their target price on Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. BMO Capital Markets restated a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research note on Wednesday, June 12th. Finally, Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research note on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $578.92.

Insider Transactions at Meta Platforms

In related news, CEO Mark Zuckerberg sold 150 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the transaction, the chief executive officer now owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The disclosure for this sale can be found here. Insiders have sold 365,761 shares of company stock valued at $190,846,038 in the last ninety days. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ META opened at $564.41 on Tuesday. The company has a market cap of $1.43 trillion, a P/E ratio of 32.42, 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 $573.98. 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’s fifty day moving average is $507.58 and its two-hundred day moving average is $497.28.

Meta Platforms (NASDAQ:META) last issued 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. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.23 earnings per share. As a group, analysts anticipate that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

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.