Adams Wealth Management Purchases 259 Shares of Meta Platforms, Inc. $META

Adams Wealth Management lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 28.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,164 shares of the social networking company’s stock after purchasing an additional 259 shares during the period. Adams Wealth Management’s holdings in Meta Platforms were worth $670,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of META. GAMMA Investing LLC increased its holdings in shares of Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company’s stock valued at $13,517,178,000 after purchasing an additional 23,417,803 shares in the last quarter. Nuveen LLC acquired a new stake in Meta Platforms during the 1st quarter worth $2,990,544,000. Northern Trust Corp grew its holdings in Meta Platforms by 13.5% during the 4th quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company’s stock worth $13,727,613,000 after acquiring an additional 2,787,832 shares during the period. Assenagon Asset Management S.A. grew its holdings in Meta Platforms by 712.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,537,631 shares of the social networking company’s stock worth $1,462,589,000 after acquiring an additional 2,225,186 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Meta Platforms during the 4th quarter worth $1,162,918,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, insider Christopher K. Cox sold 60,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the transaction, the insider owned 237,205 shares in the company, valued at $184,059,219.75. This represents a 20.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 15,847 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $753.43, for a total transaction of $11,939,605.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 267,732 shares of company stock worth $199,652,003. 13.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

META has been the subject of a number of analyst reports. Stifel Nicolaus lifted their target price on shares of Meta Platforms from $845.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Susquehanna lowered their target price on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a report on Thursday, May 1st. Pivotal Research lifted their target price on shares of Meta Platforms from $830.00 to $930.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. UBS Group lifted their target price on shares of Meta Platforms from $812.00 to $897.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Finally, Sanford C. Bernstein lifted their target price on shares of Meta Platforms from $775.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus price target of $822.41.

Meta Platforms Stock Down 2.3%

Shares of META opened at $767.37 on Tuesday. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The firm has a market cap of $1.93 trillion, a P/E ratio of 27.78, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. The firm’s 50-day simple moving average is $725.90 and its 200 day simple moving average is $655.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, beating analysts’ consensus estimates of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The business had revenue of $47.52 billion for the quarter, compared to analyst estimates of $44.55 billion. During the same quarter in the prior year, the business earned $5.16 EPS. Meta Platforms’s quarterly revenue was up 21.6% on a year-over-year basis. On average, analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. The ex-dividend date was Monday, June 16th. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend payout ratio is 7.60%.

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.