Redhawk Wealth Advisors Inc. Purchases 61 Shares of Meta Platforms, Inc. (NASDAQ:META)

Redhawk Wealth Advisors Inc. boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,084 shares of the social networking company’s stock after purchasing an additional 61 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Meta Platforms were worth $1,555,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Baird Financial Group Inc. lifted its holdings in Meta Platforms by 24.2% during the 4th quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after purchasing an additional 163,067 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of Meta Platforms by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after acquiring an additional 51,900 shares during the last quarter. Donoghue Forlines LLC raised its stake in shares of Meta Platforms by 94.4% in the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock worth $2,955,000 after acquiring an additional 4,054 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Meta Platforms by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock worth $159,841,000 after acquiring an additional 32,423 shares during the last quarter. Finally, Voyager Global Management LP raised its stake in shares of Meta Platforms by 37.3% in the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after acquiring an additional 140,000 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Meta Platforms Stock Up 2.0 %

Shares of META stock traded up $10.57 during trading on Thursday, reaching $537.33. The company’s stock had a trading volume of 13,430,621 shares, compared to its average volume of 16,375,846. The business has a fifty day moving average price of $498.92 and a 200-day moving average price of $485.97. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.36 trillion, a price-to-earnings ratio of 30.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same quarter in the previous year, the firm posted $3.23 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Insiders Place Their Bets

In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares in the company, valued at $300,466,976.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the transaction, the director now directly owns 630,293 shares in the company, valued at $300,466,976.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total transaction of $423,150.85. Following the completion of the transaction, the insider now owns 43,275 shares in the company, valued at $20,234,091.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 349,174 shares of company stock valued at $175,146,777. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on META. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Loop Capital lifted their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Stifel Nicolaus lifted their price target on shares of Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $572.51.

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.