HB Wealth Management LLC raised its position in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,891 shares of the social networking company’s stock after acquiring an additional 342 shares during the quarter. HB Wealth Management LLC’s holdings in Meta Platforms were worth $55,277,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of META. Kingstone Capital Partners Texas LLC grew its holdings in Meta Platforms by 608,429.2% in the second quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock worth $44,119,937,000 after purchasing an additional 59,766,000 shares during the period. Invesco Ltd. lifted its position in Meta Platforms by 2.3% during the first quarter. Invesco Ltd. now owns 17,669,795 shares of the social networking company’s stock valued at $10,184,163,000 after purchasing an additional 400,927 shares during the period. Goldman Sachs Group Inc. raised its position in Meta Platforms by 8.8% in the first quarter. Goldman Sachs Group Inc. now owns 15,575,962 shares of the social networking company’s stock worth $8,977,361,000 after acquiring an additional 1,255,546 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Meta Platforms by 4.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,543,468 shares of the social networking company’s stock worth $7,229,553,000 after acquiring an additional 536,160 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Meta Platforms by 2.5% during the 1st quarter. Wellington Management Group LLP now owns 10,041,171 shares of the social networking company’s stock valued at $5,787,329,000 after purchasing an additional 247,850 shares during the period. 79.91% of the stock is owned by institutional investors.
Meta Platforms Price Performance
Meta Platforms stock opened at $710.56 on Monday. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The stock has a market cap of $1.79 trillion, a P/E ratio of 25.73, a PEG ratio of 1.48 and a beta of 1.20. The company has a 50-day moving average price of $753.21 and a 200 day moving average price of $676.07. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15.
Meta Platforms Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 22nd. Meta Platforms’s dividend payout ratio (DPR) is 7.60%.
Insider Buying and Selling at Meta Platforms
In other news, CEO Mark Zuckerberg sold 15,847 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $768.67, for a total value of $12,181,113.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Susan J. Li sold 18,332 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $764.71, for a total transaction of $14,018,663.72. Following the completion of the transaction, the chief financial officer directly owned 84,141 shares of the company’s stock, valued at approximately $64,343,464.11. The trade was a 17.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 213,665 shares of company stock worth $164,584,215. 13.61% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on META shares. Loop Capital restated a “buy” rating and set a $980.00 price objective (up previously from $888.00) on shares of Meta Platforms in a research report on Tuesday, August 5th. DA Davidson boosted their price objective on shares of Meta Platforms from $650.00 to $825.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Benchmark upped their price target on shares of Meta Platforms from $800.00 to $890.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Royal Bank Of Canada boosted their price objective on shares of Meta Platforms from $740.00 to $840.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Finally, Stifel Nicolaus upped their price target on shares of Meta Platforms from $845.00 to $900.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Four equities 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $830.02.
View Our Latest Research Report on Meta Platforms
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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