Cordatus Wealth Management LLC Purchases 30 Shares of Meta Platforms, Inc. (NASDAQ:META)

Cordatus Wealth Management LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,517 shares of the social networking company’s stock after acquiring an additional 30 shares during the quarter. Cordatus Wealth Management LLC’s holdings in Meta Platforms were worth $2,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Baird Financial Group Inc. boosted its position 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 acquiring an additional 163,067 shares in the last quarter. California State Teachers Retirement System grew its stake in 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 valued at $1,265,862,000 after purchasing an additional 51,900 shares during the last quarter. Donoghue Forlines LLC raised its holdings in 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 purchasing an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Meta Platforms by 7.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after buying an additional 32,423 shares during the last quarter. Finally, Voyager Global Management LP lifted its position in shares of Meta Platforms by 37.3% during the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after buying an additional 140,000 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 412 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the transaction, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Sheryl Sandberg sold 105,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The disclosure for this sale can be found here. Insiders have sold 349,174 shares of company stock valued at $175,146,777 over the last ninety days. Insiders own 13.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on META shares. Roth Mkm upped their price target on Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research 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 research note on Thursday, August 1st. Loop Capital raised their price target on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Susquehanna upped their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a report on Thursday, August 1st. Finally, Rosenblatt Securities lifted their target price on shares of Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $574.41.

Meta Platforms Price Performance

Meta Platforms stock traded down $9.91 during trading on Friday, reaching $527.42. The company had a trading volume of 14,715,158 shares, compared to its average volume of 16,365,660. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. The firm’s 50-day simple moving average is $500.48 and its 200 day simple moving average is $487.20. The firm has a market capitalization of $1.34 trillion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $274.38 and a 1-year high of $542.81.

Meta Platforms (NASDAQ:META) last released its earnings results 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. The business 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 company’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the company 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 fiscal year.

Meta Platforms Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

About Meta Platforms

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.