Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by TrueWealth Advisors LLC

TrueWealth Advisors LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 67.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 947 shares of the social networking company’s stock after acquiring an additional 381 shares during the period. TrueWealth Advisors LLC’s holdings in Meta Platforms were worth $478,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Quest Partners LLC acquired a new stake in shares of Meta Platforms in the fourth quarter worth approximately $32,000. Clear Investment Research LLC boosted its position in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Delos Wealth Advisors LLC boosted its position in shares of Meta Platforms by 527.3% in 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. lifted its position in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares in the last quarter. Finally, Richardson Financial Services Inc. lifted its position in Meta Platforms by 95.6% during the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META traded down $3.93 during midday trading on Friday, hitting $528.00. 11,304,691 shares of the stock traded hands, compared to its average volume of 16,221,447. Meta Platforms, Inc. has a 1-year low of $276.03 and a 1-year high of $544.23. The firm has a market capitalization of $1.34 trillion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. 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 business’s 50 day moving average price is $502.48 and its two-hundred day moving average price is $490.42.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.23 earnings per share. Equities research analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

Analysts Set New Price Targets

A number of research analysts have weighed in on META shares. Susquehanna lifted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “positive” rating in a research report on Thursday, August 1st. Tigress Financial lifted their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research report on Friday, August 16th. Wolfe Research started coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target on the stock. TD Securities lifted their price target on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Finally, Roth Mkm lifted their price target on shares of Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two investment 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

Insider Buying and Selling

In related news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction dated 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 owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 630,293 shares in the company, valued at $300,466,976.03. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares in the company, valued at $159,759,417.44. The disclosure for this sale can be found here. Insiders sold 418,680 shares of company stock valued at $211,992,147 over the last 90 days. 13.71% of the stock is currently owned by company insiders.

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.