Tempus Wealth Planning LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 24.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,715 shares of the social networking company's stock after purchasing an additional 534 shares during the period. Tempus Wealth Planning LLC's holdings in Meta Platforms were worth $1,369,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Quest Partners LLC purchased a new stake in Meta Platforms during the 4th quarter valued at about $32,000. Clear Investment Research LLC grew its stake in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company's stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Delos Wealth Advisors LLC grew its stake in Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company's stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new stake in Meta Platforms during the 2nd quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. grew its stake in Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company's stock valued at $40,000 after acquiring an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.
Insider Transactions at Meta Platforms
In related news, CTO Andrew Bosworth sold 5,057 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $528.38, for a total transaction of $478,183.90. Following the transaction, the insider now directly owns 40,532 shares of the company's stock, valued at $21,416,298.16. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Andrew Bosworth sold 5,057 shares of Meta Platforms stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at $6,315,852.40. The disclosure for this sale can be found here. Insiders sold a total of 418,680 shares of company stock worth $211,992,147 over the last ninety days. 13.71% of the stock is currently owned by corporate insiders.
Meta Platforms Stock Performance
Shares of META stock traded down $3.93 during mid-day trading on Friday, hitting $528.00. The stock had a trading volume of 11,304,691 shares, compared to its average volume of 16,221,447. Meta Platforms, Inc. has a fifty-two week low of $276.03 and a fifty-two week high of $544.23. The firm has a market cap of $1.34 trillion, a PE ratio of 30.33, a PEG ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The company's 50-day simple moving average is $502.96 and its 200-day simple moving average is $491.15.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $3.23 earnings per share. Sell-side analysts anticipate that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.
Meta Platforms Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. Meta Platforms's dividend payout ratio (DPR) is presently 11.49%.
Analyst Ratings Changes
Several analysts have recently weighed in on META shares. Morgan Stanley increased their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company an "overweight" rating in a research note on Thursday, August 1st. Citigroup increased their price target on shares of Meta Platforms from $550.00 to $580.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Raymond James increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a "strong-buy" rating in a research note on Monday, July 1st. Loop Capital increased their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. Finally, Susquehanna upped their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a "positive" rating in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $574.41.
Read Our Latest Stock Analysis on META
Meta Platforms Company Profile
(
Free Report)
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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