Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Barlow Wealth Partners Inc.

Barlow Wealth Partners Inc. lifted its holdings in Meta Platforms, Inc. (NASDAQ:META) by 13.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,094 shares of the social networking company’s stock after purchasing an additional 126 shares during the period. Barlow Wealth Partners Inc.’s holdings in Meta Platforms were worth $504,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Avaii Wealth Management LLC grew its holdings in shares of Meta Platforms by 20.6% in the second quarter. Avaii Wealth Management LLC now owns 11,201 shares of the social networking company’s stock valued at $5,648,000 after purchasing an additional 1,911 shares in the last quarter. Essex Financial Services Inc. increased its position in shares of Meta Platforms by 14.4% in the 2nd quarter. Essex Financial Services Inc. now owns 16,539 shares of the social networking company’s stock valued at $8,339,000 after purchasing an additional 2,079 shares during the last quarter. Turtle Creek Wealth Advisors LLC increased its position in shares of Meta Platforms by 14.1% in the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 13,182 shares of the social networking company’s stock valued at $6,647,000 after purchasing an additional 1,631 shares during the last quarter. Hanseatic Management Services Inc. increased its position in shares of Meta Platforms by 1.8% in the 2nd quarter. Hanseatic Management Services Inc. now owns 2,602 shares of the social networking company’s stock valued at $1,312,000 after purchasing an additional 47 shares during the last quarter. Finally, Dover Advisors LLC purchased a new stake in shares of Meta Platforms in the 2nd quarter valued at approximately $258,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Down 1.8 %

META stock opened at $511.76 on Wednesday. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $544.23. The stock has a market capitalization of $1.30 trillion, a PE ratio of 29.39, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The company has a fifty day moving average of $505.32 and a 200-day moving average of $493.64.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.23 EPS. As a group, analysts expect that Meta Platforms, Inc. will post 21.3 EPS for the current year.

Insider Activity

In other news, CEO Mark Zuckerberg sold 2,011 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the completion of the transaction, the chief executive officer now owns 318,932 shares in the company, valued at approximately $159,759,417.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the firm’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 $4,714,502.00. Following the completion of the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 2,011 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the transaction, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The disclosure for this sale can be found here. Insiders sold 392,082 shares of company stock worth $202,909,089 in the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on META shares. KeyCorp increased their price objective on shares of Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Tigress Financial increased their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Citigroup increased their price objective on shares of Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Evercore ISI increased their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Morgan Stanley increased their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-two have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $574.41.

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.