Brandywine Oak Private Wealth LLC grew its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 8.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,569 shares of the social networking company’s stock after purchasing an additional 202 shares during the period. Brandywine Oak Private Wealth LLC’s holdings in Meta Platforms were worth $1,896,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Inlight Wealth Management LLC purchased a new position in Meta Platforms in the first quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new position in Meta Platforms in the first quarter worth about $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in Meta Platforms in the first quarter worth about $33,000. Evergreen Private Wealth LLC grew its position in Meta Platforms by 237.5% in the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after acquiring an additional 38 shares in the last quarter. Finally, JCIC Asset Management Inc. grew its position in Meta Platforms by 102.6% in the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company’s stock worth $46,000 after acquiring an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms Stock Performance
Shares of META stock opened at $716.91 on Friday. The firm has a market cap of $1.80 trillion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.50 and a beta of 1.20. The company’s 50 day moving average is $746.75 and its 200 day moving average is $683.72. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. 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 disclosed a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were issued 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 presently 7.60%.
Analysts Set New Price Targets
Several research analysts recently commented on META shares. Sanford C. Bernstein lifted their price target on Meta Platforms from $775.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Roth Capital raised their price objective on shares of Meta Platforms from $620.00 to $740.00 and gave the stock a “buy” rating in a research note on Tuesday, July 8th. Piper Sandler raised their price objective on shares of Meta Platforms from $808.00 to $880.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Royal Bank Of Canada raised 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, BMO Capital Markets raised their price objective on shares of Meta Platforms from $610.00 to $710.00 and gave the stock a “market perform” 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 assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $830.68.
Check Out Our Latest Stock Report on Meta Platforms
Insider Buying and Selling at Meta Platforms
In related news, CTO Andrew Bosworth sold 11,694 shares of Meta Platforms stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $775.00, for a total transaction of $9,062,850.00. Following the transaction, the chief technology officer directly owned 1,799 shares of the company’s stock, valued at $1,394,225. This trade represents a 86.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $769.38, for a total transaction of $12,192,364.86. The disclosure for this sale can be found here. In the last three months, insiders sold 214,182 shares of company stock valued at $164,933,323. 13.61% of the stock is owned by corporate insiders.
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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