Argonautica Private Wealth Management Inc. Acquires 129 Shares of Meta Platforms, Inc. (NASDAQ:META)

Argonautica Private Wealth Management Inc. grew its position in Meta Platforms, Inc. (NASDAQ:META) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,454 shares of the social networking company’s stock after purchasing an additional 129 shares during the period. Meta Platforms makes up approximately 1.8% of Argonautica Private Wealth Management Inc.’s holdings, making the stock its 9th largest holding. Argonautica Private Wealth Management Inc.’s holdings in Meta Platforms were worth $5,271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of META. Delos Wealth Advisors LLC raised its holdings in shares of 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 buying an additional 58 shares during the period. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the 2nd quarter valued at about $38,000. Ruedi Wealth Management Inc. raised its holdings in shares of 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 buying an additional 44 shares during the period. Richardson Financial Services Inc. raised its holdings in shares of Meta Platforms by 95.6% during the 1st 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 during the period. Finally, Quest Partners LLC purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $32,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Down 0.4 %

Meta Platforms stock traded down $2.32 during mid-day trading on Wednesday, hitting $516.78. The company’s stock had a trading volume of 9,050,213 shares, compared to its average volume of 16,078,506. The firm’s 50 day moving average is $503.64 and its 200 day moving average is $492.02. The company has a market cap of $1.31 trillion, a PE ratio of 29.81, 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 current ratio of 2.83 and a quick ratio of 2.68. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $544.23.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the prior year, the firm posted $3.23 EPS. The business’s revenue was up 22.1% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is currently 11.49%.

Wall Street Analyst Weigh In

META has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Bank of America lifted their price objective on Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Raymond James lifted their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday, July 1st. Wedbush restated an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a report on Wednesday, July 24th. Finally, Tigress Financial lifted their price objective on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a report on Friday, August 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $574.41.

Insiders Place Their Bets

In other news, insider Jennifer Newstead sold 901 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the transaction, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total value 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 approximately $159,759,417.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The disclosure for this sale can be found here. Insiders have sold a total of 329,890 shares of company stock valued at $170,604,385 in the last three months. Insiders own 13.71% of the company’s stock.

Meta Platforms 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.