Measured Risk Portfolios Inc. bought a new stake in Meta Platforms, Inc. (NASDAQ:META – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 338 shares of the social networking company’s stock, valued at approximately $249,000.
A number of other hedge funds have also made changes to their positions in the business. VAUGHAN & Co SECURITIES INC. purchased a new position in shares of Meta Platforms in the 2nd quarter valued at $223,000. Orca Wealth Management LLC purchased a new position in shares of Meta Platforms in the 2nd quarter valued at $205,000. Beacon Financial Advisory LLC raised its stake in shares of Meta Platforms by 4.2% in the 2nd quarter. Beacon Financial Advisory LLC now owns 3,246 shares of the social networking company’s stock valued at $2,396,000 after acquiring an additional 131 shares during the period. Marietta Wealth Management LLC raised its stake in shares of Meta Platforms by 0.9% in the 2nd quarter. Marietta Wealth Management LLC now owns 16,517 shares of the social networking company’s stock valued at $12,191,000 after acquiring an additional 149 shares during the period. Finally, Iron Horse Wealth Management LLC raised its stake in shares of Meta Platforms by 222.5% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 558 shares of the social networking company’s stock valued at $412,000 after acquiring an additional 385 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms Trading Down 3.8%
NASDAQ META opened at $705.30 on Monday. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $796.25. The company has a 50-day simple moving average of $752.20 and a 200-day simple moving average of $679.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market capitalization of $1.77 trillion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 1.47 and a beta of 1.20.
Meta Platforms Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were issued a $0.525 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s payout ratio is 7.60%.
Wall Street Analysts Forecast Growth
META has been the topic of a number of research reports. Barclays raised their target price on shares of Meta Platforms from $640.00 to $810.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Robert W. Baird lifted their price target on shares of Meta Platforms from $635.00 to $740.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 2nd. Wells Fargo & Company lifted their price target on shares of Meta Platforms from $811.00 to $837.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. Morgan Stanley lifted their price target on shares of Meta Platforms from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Meta Platforms in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $830.68.
Get Our Latest Research Report on META
Insider Buying and Selling at Meta Platforms
In other news, insider Christopher K. Cox sold 60,000 shares of Meta Platforms stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $775.95, for a total value of $46,557,000.00. Following the completion of the transaction, the insider directly owned 237,205 shares of the company’s stock, valued at approximately $184,059,219.75. The trade was a 20.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $769.38, for a total transaction of $12,192,364.86. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 213,665 shares of company stock valued at $164,575,272. Corporate insiders own 13.61% of the company’s stock.
Meta Platforms Company 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.
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