Guyasuta Investment Advisors Inc. lifted its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 4.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,871 shares of the social networking company’s stock after buying an additional 1,122 shares during the period. Meta Platforms makes up about 1.2% of Guyasuta Investment Advisors Inc.’s investment portfolio, making the stock its 24th biggest position. Guyasuta Investment Advisors Inc.’s holdings in Meta Platforms were worth $19,833,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Csenge Advisory Group raised its holdings in Meta Platforms by 12.0% during the first quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company’s stock valued at $5,498,000 after acquiring an additional 1,019 shares during the period. ARQ Wealth Advisors LLC raised its holdings in Meta Platforms by 4.5% during the first quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company’s stock valued at $452,000 after acquiring an additional 34 shares during the period. JMG Financial Group Ltd. bought a new stake in Meta Platforms during the first quarter valued at about $284,000. Infusive Asset Management Inc. raised its holdings in Meta Platforms by 10.7% during the first quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock valued at $13,614,000 after acquiring an additional 2,285 shares during the period. Finally, Spirepoint Private Client LLC raised its holdings in Meta Platforms by 2.7% during the second quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock valued at $3,011,000 after acquiring an additional 109 shares during the period. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Meta Platforms Stock Down 2.3%
Shares of NASDAQ META opened at $710.56 on Friday. 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 $1.79 trillion, a price-to-earnings ratio of 25.73, a PEG ratio of 1.52 and a beta of 1.20. The stock has a 50 day moving average price of $753.21 and a 200 day moving average price of $674.82. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $796.25.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio is presently 7.60%.
Insiders Place Their Bets
In related news, CEO Mark Zuckerberg sold 15,847 shares of the company’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $753.43, for a total value of $11,939,605.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 11,694 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $775.00, for a total value of $9,062,850.00. Following the completion of the transaction, the chief technology officer directly owned 1,799 shares in the company, valued at approximately $1,394,225. The trade was a 86.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 214,182 shares of company stock valued at $164,955,168. Company insiders own 13.61% of the company’s stock.
Analyst Ratings Changes
META has been the topic of a number of recent analyst reports. Benchmark raised their price target on Meta Platforms from $800.00 to $890.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Zacks Research cut shares of Meta Platforms from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 19th. Raymond James Financial lifted their target price on Meta Platforms from $750.00 to $900.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 31st. Oppenheimer lifted their target price on Meta Platforms from $775.00 to $870.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, Needham & Company LLC raised Meta Platforms from an “underperform” rating to a “hold” rating in a report on Thursday, July 3rd. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average target price of $830.02.
Read Our Latest Analysis on META
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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