Iowa State Bank Acquires 1,184 Shares of Meta Platforms, Inc. $META

Iowa State Bank boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 8.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 14,496 shares of the social networking company’s stock after acquiring an additional 1,184 shares during the quarter. Meta Platforms accounts for approximately 1.4% of Iowa State Bank’s portfolio, making the stock its 22nd largest position. Iowa State Bank’s holdings in Meta Platforms were worth $8,165,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Total Wealth Planning & Management Inc. boosted its stake in shares of Meta Platforms by 10.2% during the 2nd quarter. Total Wealth Planning & Management Inc. now owns 2,304 shares of the social networking company’s stock worth $1,298,000 after acquiring an additional 213 shares during the period. Sciencast Management LP bought a new stake in Meta Platforms in the 2nd quarter valued at $2,117,000. Vivid Wealth Management LLC raised its stake in Meta Platforms by 5.5% in the 2nd quarter. Vivid Wealth Management LLC now owns 4,259 shares of the social networking company’s stock valued at $2,399,000 after acquiring an additional 222 shares during the period. Tepp RIA LLC acquired a new stake in Meta Platforms during the 2nd quarter valued at $225,000. Finally, TradeWell Securities LLC. lifted its holdings in Meta Platforms by 0.9% during the 2nd quarter. TradeWell Securities LLC. now owns 16,521 shares of the social networking company’s stock valued at $9,306,000 after purchasing an additional 142 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

NASDAQ:META opened at $570.05 on Wednesday. Meta Platforms, Inc. has a 52 week low of $520.26 and a 52 week high of $790.80. The firm has a market cap of $1.45 trillion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 0.95 and a beta of 1.25. The firm’s 50-day simple moving average is $592.21 and its 200 day simple moving average is $613.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.23 and a current ratio of 2.23.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 29th. The social networking company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.19 by ($1.01). Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The business had revenue of $60.80 billion during the quarter, compared to the consensus estimate of $60.22 billion. During the same period in the prior year, the firm earned $7.14 EPS. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 28.5 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 25th. Investors of record on Monday, June 15th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 15th. Meta Platforms’s payout ratio is 7.91%.

Insider Buying and Selling at Meta Platforms

In other news, CFO Susan J. Li sold 9,196 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $550.61, for a total transaction of $5,063,409.56. Following the completion of the sale, the chief financial officer directly owned 13,186 shares in the company, valued at approximately $7,260,343.46. This represents a 41.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Curtis J. Mahoney sold 1,559 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $558.00, for a total value of $869,922.00. Following the sale, the insider directly owned 1,957 shares in the company, valued at approximately $1,092,006. This trade represents a 44.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 34,957 shares of company stock valued at $20,442,696 over the last ninety days. 13.53% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Mizuho set a $750.00 price objective on shares of Meta Platforms in a research report on Thursday, July 30th. Robert W. Baird reduced their target price on shares of Meta Platforms from $830.00 to $750.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. Barclays decreased their price target on shares of Meta Platforms from $830.00 to $780.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Roth Capital restated a “buy” rating on shares of Meta Platforms in a research report on Thursday, April 30th. Finally, Benchmark began coverage on Meta Platforms in a report on Tuesday, June 2nd. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $785.32.

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

• Positive Sentiment: Meta is reportedly preparing to launch Hatch, a consumer AI agent that could let users browse Reddit, order from DoorDash, shop on Etsy, access Yelp and manage Outlook within Meta’s ecosystem. The product could increase engagement with Meta’s platforms and strengthen its position in consumer AI. Reddit Stock Is Up, What You Need to Know
• Positive Sentiment: Analysts continue to point to accelerating advertising growth, AI-powered ad tools, rising user engagement and increased advertiser adoption as factors helping Meta outperform social-media rivals Reddit and Snap. META Rides on Ad Growth
• Positive Sentiment: Former OpenAI researcher Luke Metz has joined Meta’s Superintelligence Labs and will report to AI chief Alexandr Wang. The hire supports Meta’s effort to build advanced AI capabilities, although the financial benefits are longer term. Luke Metz Joins Meta’s Superintelligence Labs
• Neutral Sentiment: Reports highlighted substantial Meta insider-trading activity during August, including notable transactions on August 18. The article did not establish whether the activity represented buying or selling, limiting its immediate stock-price significance. Monster Insider Trading Alert for Meta Stock
• Negative Sentiment: Instagram chief Adam Mosseri is testifying in a lawsuit brought by 29 states alleging that Meta designed Instagram and Facebook to be addictive to children while downplaying safety risks. An adverse outcome could create regulatory, redesign and financial costs. Instagram Head Adam Mosseri to Testify at Meta Trial

About Meta Platforms

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.