Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Capital Advisors Wealth Management LLC

Capital Advisors Wealth Management LLC increased its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,101 shares of the social networking company’s stock after purchasing an additional 1,343 shares during the period. Meta Platforms accounts for about 1.0% of Capital Advisors Wealth Management LLC’s holdings, making the stock its 28th biggest position. Capital Advisors Wealth Management LLC’s holdings in Meta Platforms were worth $5,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of META. Norges Bank acquired a new position in shares of Meta Platforms during the 4th quarter valued at about $11,285,855,000. Capital Research Global Investors lifted its position in Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after buying an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management grew its stake in Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares during the period. Vanguard Group Inc. increased its position in shares of Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after acquiring an additional 3,104,550 shares in the last quarter. Finally, Jennison Associates LLC raised its position in Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after purchasing an additional 2,748,620 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Price Performance

META traded up $10.02 on Thursday, reaching $536.78. The company had a trading volume of 8,247,194 shares, compared to its average volume of 16,342,830. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81. The company has a market capitalization of $1.36 trillion, a P/E ratio of 30.92, a PEG ratio of 1.27 and a beta of 1.21. The company has a fifty day moving average of $498.92 and a 200-day moving average of $485.97. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. During the same quarter last year, the business earned $3.23 earnings per share. As a group, equities research analysts anticipate that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Mark Zuckerberg sold 2,011 shares of Meta Platforms stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total value of $1,007,350.12. Following the transaction, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The disclosure for this sale can be found here. Insiders sold 349,174 shares of company stock valued at $175,146,777 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on META shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research note on Thursday, August 1st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Thursday, August 1st. Guggenheim boosted their price objective on shares of Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their price target on Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their target price on Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $572.51.

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.