Aire Advisors LLC boosted its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,581 shares of the social networking company’s stock after buying an additional 140 shares during the quarter. Meta Platforms makes up approximately 1.1% of Aire Advisors LLC’s investment portfolio, making the stock its 26th largest position. Aire Advisors LLC’s holdings in Meta Platforms were worth $5,595,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Csenge Advisory Group raised its holdings in Meta Platforms by 12.0% in the 1st quarter. Csenge Advisory Group now owns 9,539 shares of the social networking company’s stock valued at $5,498,000 after buying an additional 1,019 shares during the last quarter. ARQ Wealth Advisors LLC raised its holdings in Meta Platforms by 4.5% in the 1st quarter. ARQ Wealth Advisors LLC now owns 785 shares of the social networking company’s stock valued at $452,000 after buying an additional 34 shares during the last quarter. JMG Financial Group Ltd. bought a new position in Meta Platforms in the 1st quarter valued at approximately $284,000. Infusive Asset Management Inc. raised its holdings in Meta Platforms by 10.7% in the 1st quarter. Infusive Asset Management Inc. now owns 23,620 shares of the social networking company’s stock valued at $13,614,000 after buying an additional 2,285 shares during the last quarter. Finally, Spirepoint Private Client LLC increased its position in Meta Platforms by 2.7% during the 2nd quarter. Spirepoint Private Client LLC now owns 4,080 shares of the social networking company’s stock valued at $3,011,000 after purchasing an additional 109 shares during the period. Institutional investors own 79.91% of the company’s stock.
Meta Platforms Stock Performance
Shares of META stock opened at $738.36 on Monday. The company has a market cap of $1.85 trillion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 1.57 and a beta of 1.20. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $796.25. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The firm has a 50 day moving average of $742.11 and a 200-day moving average of $692.08.
Meta Platforms Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 22nd were given a $0.525 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is presently 7.60%.
Insider Activity at Meta Platforms
In related news, insider Jennifer Newstead sold 519 shares of Meta Platforms stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $736.37, for a total value of $382,176.03. Following the completion of the sale, the insider owned 28,275 shares of the company’s stock, valued at approximately $20,820,861.75. This trade represents a 1.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert M. Kimmitt sold 465 shares of Meta Platforms stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $716.97, for a total transaction of $333,391.05. Following the completion of the sale, the director directly owned 7,947 shares of the company’s stock, valued at approximately $5,697,760.59. The trade was a 5.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 213,665 shares of company stock valued at $164,581,886. 13.61% of the stock is owned by company insiders.
Analysts Set New Price Targets
META has been the subject of a number of recent analyst reports. Guggenheim reissued a “buy” rating and set a $800.00 target price (up previously from $725.00) on shares of Meta Platforms in a research report on Monday, July 28th. Bank of America increased their target price on shares of Meta Platforms from $775.00 to $900.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. HSBC upgraded shares of Meta Platforms from a “hold” rating to a “buy” rating and boosted their target price for the company from $610.00 to $900.00 in a report on Thursday, July 31st. Morgan Stanley boosted their target price on shares of Meta Platforms from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 31st. Finally, Scotiabank boosted their target price on shares of Meta Platforms from $675.00 to $685.00 and gave the company a “sector perform” rating in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $829.66.
Read Our Latest Analysis on META
About Meta Platforms
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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