Consilio Wealth Advisors LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,441 shares of the social networking company’s stock after acquiring an additional 114 shares during the period. Meta Platforms comprises 1.7% of Consilio Wealth Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. Consilio Wealth Advisors LLC’s holdings in Meta Platforms were worth $4,725,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Meta Platforms during the first quarter valued at approximately $28,000. Evergreen Private Wealth LLC boosted its position 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 valued at $40,000 after buying an additional 38 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Meta Platforms during the first quarter valued at approximately $33,000. Maseco LLP purchased a new position in shares of Meta Platforms during the second quarter valued at approximately $54,000. Finally, Piscataqua Savings Bank boosted its position in shares of Meta Platforms by 433.3% during the second quarter. Piscataqua Savings Bank now owns 80 shares of the social networking company’s stock valued at $59,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.
Meta Platforms Stock Performance
Shares of META opened at $738.36 on Monday. The firm has a market cap of $1.85 trillion, a PE ratio of 26.73, a PEG ratio of 1.57 and a beta of 1.20. The stock’s fifty day moving average price is $742.11 and its two-hundred day moving average price is $692.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick 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 announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were paid a $0.525 dividend. The ex-dividend date was Monday, September 22nd. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s payout ratio is presently 7.60%.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, COO Javier Olivan sold 517 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $721.30, for a total value of $372,912.10. Following the sale, the chief operating officer directly owned 8,475 shares in the company, valued at $6,113,017.50. The trade was a 5.75% 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, Director Robert M. Kimmitt sold 465 shares of the business’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $716.97, for a total value of $333,391.05. Following the completion of the sale, the director owned 7,947 shares in the company, valued at approximately $5,697,760.59. The trade was a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 213,665 shares of company stock worth $164,581,886 over the last ninety days. 13.61% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on META. Oppenheimer cut their target price on Meta Platforms from $870.00 to $825.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Roth Capital lifted their target price on Meta Platforms from $620.00 to $740.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. JMP Securities lifted their price target on Meta Platforms from $750.00 to $900.00 and gave the stock a “market outperform” rating in a report on Thursday, July 31st. Needham & Company LLC upgraded Meta Platforms from an “underperform” rating to a “hold” rating in a report on Thursday, July 3rd. Finally, Wedbush lifted their price target on Meta Platforms from $750.00 to $920.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Five analysts have rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Buy” and an average target price of $829.66.
Read Our Latest Stock 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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