Goldstein Advisors LLC Acquires 221 Shares of Meta Platforms, Inc. $META

Goldstein Advisors LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 10.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,276 shares of the social networking company’s stock after purchasing an additional 221 shares during the period. Goldstein Advisors LLC’s holdings in Meta Platforms were worth $1,680,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC purchased a new position in Meta Platforms during the 1st quarter worth $28,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Meta Platforms in the 1st quarter worth $33,000. Evergreen Private Wealth LLC grew its position in shares of Meta Platforms by 237.5% during the 2nd 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 in the last quarter. Maseco LLP purchased a new position in shares of Meta Platforms during the second quarter valued at $54,000. Finally, eCIO Inc. purchased a new position in shares of Meta Platforms during the first quarter valued at $58,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Activity at Meta Platforms

In related news, Director Robert M. Kimmitt sold 465 shares of the stock in a transaction that occurred 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 transaction, the director owned 7,947 shares in the company, valued at approximately $5,697,760.59. This represents a 5.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 519 shares of the company’s stock in a transaction on Tuesday, October 21st. The shares were sold at an average price of $736.37, for a total transaction of $382,176.03. Following the completion of the sale, the insider directly owned 28,275 shares in the company, valued at $20,820,861.75. This trade represents a 1.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 213,146 shares of company stock worth $164,208,279 over the last quarter. Insiders own 13.61% of the company’s stock.

Meta Platforms Trading Up 0.1%

Shares of NASDAQ:META opened at $751.44 on Wednesday. Meta Platforms, Inc. has a 1 year low of $479.80 and a 1 year high of $796.25. The firm has a market capitalization of $1.89 trillion, a P/E ratio of 27.21, a P/E/G ratio of 1.59 and a beta of 1.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97. The business’s 50-day moving average is $741.78 and its 200 day moving average is $694.67.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The firm had revenue of $47.52 billion for the quarter, compared to the consensus estimate of $44.55 billion. During the same quarter in the prior year, the company posted $5.16 earnings per share. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. On average, research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 22nd were issued a $0.525 dividend. The ex-dividend date of this dividend 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 is currently 7.60%.

Analyst Ratings Changes

A number of research firms recently weighed in on META. Wedbush upped their price objective on shares of Meta Platforms from $750.00 to $920.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Bank of America boosted their price target on shares of Meta Platforms from $775.00 to $900.00 and gave the company a “buy” rating in a report on Thursday, July 31st. The Goldman Sachs Group reiterated a “buy” rating on shares of Meta Platforms in a research note on Tuesday, October 14th. JMP Securities lifted their price objective on shares of Meta Platforms from $750.00 to $900.00 and gave the company a “market outperform” rating in a report on Thursday, July 31st. Finally, DA Davidson upped their target price on Meta Platforms from $650.00 to $825.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Five analysts have rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $829.66.

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.