Tlwm trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 0.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,172 shares of the social networking company’s stock after selling 20 shares during the period. Meta Platforms comprises about 0.6% of Tlwm’s portfolio, making the stock its 13th biggest position. Tlwm’s holdings in Meta Platforms were worth $3,079,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Meta Platforms during the first quarter worth approximately $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Meta Platforms during the first quarter worth approximately $33,000. Evergreen Private Wealth LLC increased its stake in shares of Meta Platforms by 237.5% during the second quarter. Evergreen Private Wealth LLC now owns 54 shares of the social networking company’s stock worth $40,000 after buying an additional 38 shares during the period. JCIC Asset Management Inc. increased its stake in shares of Meta Platforms by 102.6% during the first quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company’s stock worth $46,000 after buying an additional 40 shares during the period. Finally, Maseco LLP purchased a new stake in shares of Meta Platforms during the second quarter worth approximately $54,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Meta Platforms Trading Up 0.6%
NASDAQ:META opened at $738.36 on Friday. The stock has a fifty day moving average price of $742.11 and a two-hundred day moving average price of $691.34. The stock has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 26.73, a PEG ratio of 1.57 and a beta of 1.20. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25.
Meta Platforms Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were given a $0.525 dividend. The ex-dividend date 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 (DPR) is currently 7.60%.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on META shares. Morgan Stanley upped their price target on Meta Platforms from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Stifel Nicolaus upped their price target on Meta Platforms from $845.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Monness Crespi & Hardt upped their price target on Meta Platforms from $780.00 to $860.00 and gave the company a “buy” rating in a report on Thursday, July 31st. UBS Group upped their price target on Meta Platforms from $897.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, Scotiabank increased their price objective on Meta Platforms from $675.00 to $685.00 and gave the company a “sector perform” rating in a report on Thursday, July 31st. Five analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $829.66.
Get Our Latest Analysis on Meta Platforms
Insider Transactions at Meta Platforms
In other news, CTO Andrew Bosworth sold 11,694 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was 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 owned 1,799 shares in the company, 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 the SEC website. Also, insider Christopher K. Cox sold 60,000 shares of the firm’s stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $775.95, for a total value of $46,557,000.00. Following the completion of the transaction, the insider owned 237,205 shares of the company’s stock, valued at approximately $184,059,219.75. This represents a 20.19% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 214,182 shares of company stock worth $164,951,541. Corporate insiders own 13.61% of the company’s stock.
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.
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