Circle Wealth Management LLC Purchases 4,254 Shares of Meta Platforms, Inc. (NASDAQ:META)

Circle Wealth Management LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 41.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,603 shares of the social networking company’s stock after buying an additional 4,254 shares during the period. Circle Wealth Management LLC’s holdings in Meta Platforms were worth $7,363,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $32,000. Clear Investment Research LLC increased its stake in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Delos Wealth Advisors LLC increased its stake in Meta Platforms by 527.3% during the first 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 last quarter. POM Investment Strategies LLC purchased a new stake in Meta Platforms during the second quarter valued at approximately $38,000. Finally, Ruedi Wealth Management Inc. lifted its stake in shares of Meta Platforms by 122.2% in the 2nd 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 last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Trading Up 0.5 %

NASDAQ META opened at $564.41 on Tuesday. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $573.98. The company has a 50 day moving average price of $507.58 and a 200 day moving average price of $497.28. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.43 trillion, a PE ratio of 32.42, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.23 earnings per share. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared 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 dividend payout ratio (DPR) is presently 11.49%.

Wall Street Analyst Weigh In

META has been the topic of several recent research reports. Barclays increased their price target on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Evercore ISI increased 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. Susquehanna raised their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Tigress Financial raised their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Two 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 issued a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $578.92.

Insiders Place Their Bets

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 transaction, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction that occurred on 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 owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total transaction of $8,532,717.76. Following the completion of the transaction, the chief executive officer now directly owns 230,461 shares of the company’s stock, valued at approximately $117,737,915.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 365,761 shares of company stock valued at $190,846,038. 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.