WealthShield Partners LLC raised its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 3.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,719 shares of the social networking company’s stock after acquiring an additional 352 shares during the quarter. Meta Platforms makes up about 1.0% of WealthShield Partners LLC’s holdings, making the stock its 23rd biggest holding. WealthShield Partners LLC’s holdings in Meta Platforms were worth $7,912,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Evergreen Private Wealth LLC grew its stake in shares of Meta Platforms by 237.5% in the 2nd quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 38 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Meta Platforms during the 1st quarter valued at approximately $33,000. Briaud Financial Planning Inc acquired a new stake in Meta Platforms in the second quarter valued at $42,000. WFA Asset Management Corp grew its stake in Meta Platforms by 42.6% in the 2nd quarter. WFA Asset Management Corp now owns 67 shares of the social networking company’s stock valued at $49,000 after acquiring an additional 20 shares during the last quarter. Finally, Maseco LLP acquired a new position in shares of Meta Platforms during the 2nd quarter worth approximately $54,000. Institutional investors and hedge funds own 79.91% of the company’s stock.
Meta Platforms Price Performance
Shares of NASDAQ:META opened at $636.22 on Wednesday. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The business has a 50 day moving average price of $691.78 and a 200 day moving average price of $706.84. The company has a market cap of $1.60 trillion, a price-to-earnings ratio of 28.10, a PEG ratio of 1.28 and a beta of 1.20. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.15.
Meta Platforms Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were issued a dividend of $0.525 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is 9.28%.
Insider Activity
In other Meta Platforms news, CFO Susan J. Li sold 6,875 shares of the business’s stock in a transaction dated Saturday, November 15th. The shares were sold at an average price of $609.46, for a total transaction of $4,190,037.50. Following the sale, the chief financial officer directly owned 88,370 shares of the company’s stock, valued at $53,857,980.20. The trade was a 7.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Javier Olivan sold 2,610 shares of the firm’s stock in a transaction on Saturday, November 15th. The shares were sold at an average price of $609.46, for a total transaction of $1,590,690.60. Following the completion of the transaction, the chief operating officer directly owned 9,784 shares of the company’s stock, valued at $5,962,956.64. This represents a 21.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 40,923 shares of company stock valued at $26,126,437. 13.61% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities research analysts have recently commented on META shares. Roth Capital reaffirmed a “buy” rating on shares of Meta Platforms in a research report on Thursday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $920.00 price target on shares of Meta Platforms in a report on Thursday, October 30th. Monness Crespi & Hardt reduced their target price on Meta Platforms from $860.00 to $808.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Morgan Stanley boosted their price objective on Meta Platforms from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Finally, BMO Capital Markets boosted their target price on shares of Meta Platforms from $610.00 to $710.00 and gave the company a “market perform” rating in a research note on Thursday, July 31st. Four investment analysts have rated the stock with a Strong Buy rating, thirty-eight have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $823.93.
Read Our Latest Stock Analysis on Meta Platforms
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.
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