Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Perfromance Wealth Partners LLC

Perfromance Wealth Partners LLC raised its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 108.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,713 shares of the social networking company’s stock after purchasing an additional 3,494 shares during the period. Perfromance Wealth Partners LLC’s holdings in Meta Platforms were worth $3,385,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in Meta Platforms during the fourth quarter valued at $32,000. Clear Investment Research LLC increased its stake in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after purchasing an additional 74 shares during the last quarter. Delos Wealth Advisors LLC grew its position in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares during the last quarter. Ruedi Wealth Management Inc. grew its position in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the last quarter. Finally, Richardson Financial Services Inc. grew its position in shares of Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Susquehanna upped their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Benchmark restated a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Morgan Stanley upped their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. BMO Capital Markets restated a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research report on Wednesday, June 12th. Finally, Citigroup upped their price target on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $574.41.

Meta Platforms Trading Up 1.8 %

Shares of META traded up $9.42 during midday trading on Wednesday, hitting $536.15. The stock had a trading volume of 4,744,076 shares, compared to its average volume of 16,201,267. Meta Platforms, Inc. has a fifty-two week low of $276.03 and a fifty-two week high of $542.81. The business has a 50-day simple moving average of $501.40 and a two-hundred day simple moving average of $489.81. The firm has a market cap of $1.36 trillion, a P/E ratio of 30.25, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. 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 announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the company posted $3.23 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Announces Dividend

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

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 901 shares of the firm’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 directly owns 33,324 shares in the company, valued at $15,034,122.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 901 shares of the firm’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 directly owns 33,324 shares in the company, valued at $15,034,122.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Javier Olivan sold 412 shares of the firm’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 sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The disclosure for this sale can be found here. Insiders sold a total of 384,783 shares of company stock worth $194,001,589 over the last ninety days. 13.71% of the stock is currently owned by company insiders.

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.