8,628 Shares in Meta Platforms, Inc. $META Purchased by Goodman Advisory Group LLC

Goodman Advisory Group LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,628 shares of the social networking company’s stock, valued at approximately $6,368,000. Meta Platforms makes up about 2.2% of Goodman Advisory Group LLC’s portfolio, making the stock its 17th biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in META. Kingstone Capital Partners Texas LLC lifted its stake in Meta Platforms by 608,429.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 59,775,823 shares of the social networking company’s stock valued at $44,119,937,000 after acquiring an additional 59,766,000 shares in the last quarter. Norges Bank bought a new stake in shares of Meta Platforms in the 2nd quarter worth $23,155,393,000. Laurel Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 73,443.1% in the second quarter. Laurel Wealth Advisors LLC now owns 8,417,003 shares of the social networking company’s stock valued at $6,212,506,000 after purchasing an additional 8,405,558 shares during the last quarter. State Street Corp lifted its position in shares of Meta Platforms by 1.9% during the second quarter. State Street Corp now owns 86,925,674 shares of the social networking company’s stock valued at $64,158,971,000 after purchasing an additional 1,650,435 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Meta Platforms by 0.8% during the second quarter. Vanguard Group Inc. now owns 192,591,101 shares of the social networking company’s stock worth $142,149,566,000 after purchasing an additional 1,532,568 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Down 1.3%

META stock opened at $644.23 on Friday. The stock has a fifty day moving average of $665.92 and a 200-day moving average of $707.24. Meta Platforms, Inc. has a fifty-two week low of $479.80 and a fifty-two week high of $796.25. The company has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 28.46, a PEG ratio of 1.35 and a beta of 1.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.98 and a current ratio of 1.98.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data on Wednesday, October 29th. The social networking company reported $7.25 EPS for the quarter, beating the consensus estimate of $6.74 by $0.51. The business had revenue of $51.24 billion for the quarter, compared to the consensus estimate of $49.34 billion. Meta Platforms had a net margin of 30.89% and a return on equity of 39.35%. The company’s revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.03 earnings per share. As a group, equities research analysts predict that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 23rd. Investors of record on Monday, December 15th will be issued a $0.525 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms’s dividend payout ratio (DPR) is 9.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on META shares. Cantor Fitzgerald dropped their target price on shares of Meta Platforms from $830.00 to $720.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 19th. Barclays dropped their price target on Meta Platforms from $810.00 to $770.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Benchmark downgraded Meta Platforms from a “buy” rating to a “hold” rating in a research note on Thursday, October 30th. Truist Financial decreased their target price on Meta Platforms from $900.00 to $875.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Finally, Zacks Research downgraded shares of Meta Platforms from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 18th. Four research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $819.46.

Insiders Place Their Bets

In other Meta Platforms news, CTO Andrew Bosworth sold 11,690 shares of the business’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $593.31, for a total transaction of $6,935,793.90. Following the sale, the chief technology officer owned 2,415 shares of the company’s stock, valued at $1,432,843.65. The trade was a 82.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert M. Kimmitt sold 600 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $609.35, for a total value of $365,610.00. Following the completion of the transaction, the director directly owned 7,347 shares of the company’s stock, valued at $4,476,894.45. The trade was a 7.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 41,959 shares of company stock worth $26,578,191 in the last three months. Insiders own 13.61% of the company’s stock.

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.