Meta Platforms, Inc. (NASDAQ:META) Shares Bought by IMA Advisory Services Inc.

IMA Advisory Services Inc. boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 6.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,207 shares of the social networking company’s stock after buying an additional 750 shares during the quarter. Meta Platforms accounts for 1.4% of IMA Advisory Services Inc.’s investment portfolio, making the stock its 18th largest position. IMA Advisory Services Inc.’s holdings in Meta Platforms were worth $6,155,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Meta Platforms in the 4th quarter valued at $11,285,855,000. Capital Research Global Investors lifted its position in shares of Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management lifted its position in shares of Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after purchasing an additional 3,104,550 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Meta Platforms by 24.7% during the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Down 1.7 %

Shares of Meta Platforms stock traded down $8.77 during trading hours on Monday, hitting $519.23. The company’s stock had a trading volume of 5,075,826 shares, compared to its average volume of 16,153,604. The business has a fifty day moving average of $502.96 and a 200 day moving average of $491.30. The company has a market capitalization of $1.32 trillion, a PE ratio of 29.63, a P/E/G ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the business earned $3.23 EPS. As a group, equities analysts forecast that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.39%. Meta Platforms’s payout ratio is currently 11.49%.

Analyst Upgrades and Downgrades

META has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $525.00 price objective on shares of Meta Platforms in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wolfe Research assumed coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target for the company. Citigroup boosted their price target on shares of Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Tigress Financial lifted their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $533.24, for a total value of $8,906,174.48. Following the transaction, the chief executive officer now directly owns 28,838 shares in the company, valued at approximately $15,377,575.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $533.24, for a total transaction of $8,906,174.48. Following the completion of the sale, the chief executive officer now owns 28,838 shares in the company, valued at $15,377,575.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 418,680 shares of company stock worth $211,992,147. 13.71% of the stock is currently owned by 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.