MFA Wealth Advisors LLC Acquires 10,507 Shares of Meta Platforms, Inc. $META

MFA Wealth Advisors LLC grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:METAFree Report) by 1,748.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 11,108 shares of the social networking company’s stock after acquiring an additional 10,507 shares during the quarter. Meta Platforms accounts for approximately 1.1% of MFA Wealth Advisors LLC’s investment portfolio, making the stock its 19th biggest holding. MFA Wealth Advisors LLC’s holdings in Meta Platforms were worth $6,257,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. First Community Trust NA boosted its stake in Meta Platforms by 1.7% in the second quarter. First Community Trust NA now owns 8,690 shares of the social networking company’s stock valued at $4,895,000 after acquiring an additional 145 shares during the last quarter. Walker Asset Management LLC increased its position in Meta Platforms by 17.3% in the second quarter. Walker Asset Management LLC now owns 591 shares of the social networking company’s stock worth $333,000 after buying an additional 87 shares during the last quarter. GoalFusion Wealth Management LLC raised its stake in shares of Meta Platforms by 5.7% in the second quarter. GoalFusion Wealth Management LLC now owns 929 shares of the social networking company’s stock valued at $523,000 after buying an additional 50 shares during the period. Bank & Trust Co raised its stake in shares of Meta Platforms by 3.6% in the second quarter. Bank & Trust Co now owns 1,164 shares of the social networking company’s stock valued at $656,000 after buying an additional 40 shares during the period. Finally, Wedge Capital Management L L P NC lifted its position in shares of Meta Platforms by 19.8% during the 2nd quarter. Wedge Capital Management L L P NC now owns 3,526 shares of the social networking company’s stock valued at $1,986,000 after buying an additional 582 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

META has been the subject of several research reports. Cantor Fitzgerald cut their price target on Meta Platforms from $770.00 to $680.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. TD Cowen lowered their price objective on Meta Platforms from $800.00 to $750.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings lowered shares of Meta Platforms from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, June 26th. Truist Financial cut their price objective on shares of Meta Platforms from $840.00 to $770.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, Barclays reduced their price objective on shares of Meta Platforms from $830.00 to $780.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Four analysts have rated the stock with a Strong Buy rating, thirty-five have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and a consensus target price of $785.32.

Read Our Latest Report on Meta Platforms

Meta Platforms Stock Performance

NASDAQ META opened at $578.85 on Thursday. The company’s 50 day simple moving average is $596.66 and its two-hundred day simple moving average is $621.07. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.23 and a quick ratio of 2.23. Meta Platforms, Inc. has a 1 year low of $520.26 and a 1 year high of $796.25. The stock has a market capitalization of $1.47 trillion, a PE ratio of 21.80, a P/E/G ratio of 1.02 and a beta of 1.25.

Meta Platforms (NASDAQ:METAGet Free Report) last released its quarterly earnings results on Wednesday, July 29th. The social networking company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $7.19 by ($1.01). The firm had revenue of $60.80 billion for the quarter, compared to analysts’ expectations of $60.22 billion. Meta Platforms had a net margin of 29.83% and a return on equity of 33.18%. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter last year, the firm earned $7.14 earnings per share. Analysts predict that Meta Platforms, Inc. will post 28.5 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Monday, June 15th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, June 15th. Meta Platforms’s payout ratio is presently 7.91%.

Key Stories Impacting Meta Platforms

Here are the key news stories impacting Meta Platforms this week:

Insiders Place Their Bets

In related news, COO Javier Olivan sold 3,348 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $600.97, for a total value of $2,012,047.56. Following the transaction, the chief operating officer directly owned 9,498 shares in the company, valued at approximately $5,708,013.06. This represents a 26.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Susan J. Li sold 9,195 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $607.84, for a total transaction of $5,589,088.80. Following the completion of the sale, the chief financial officer directly owned 13,186 shares in the company, valued at $8,014,978.24. This represents a 41.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 38,407 shares of company stock valued at $23,391,097 in the last ninety days. Corporate insiders own 13.53% of the company’s stock.

Meta Platforms Company Profile

(Free Report)

Meta Platforms, Inc (NASDAQ: META), formerly Facebook, Inc, is a global technology company best known for building social networking services and immersive computing platforms. Founded in 2004 and headquartered in Menlo Park, California, the company operates a family of consumer-facing products and services that connect users, creators and businesses. In October 2021 the company rebranded as Meta to reflect an expanded strategic focus on augmented and virtual reality technologies alongside its social media businesses.

Meta’s core consumer products include Facebook, Instagram, WhatsApp and Messenger, which enable social networking, messaging, content sharing and community building across mobile and desktop devices.

See Also

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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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