Schneider Downs Wealth Management Advisors LP Invests $257,000 in Meta Platforms, Inc. (NASDAQ:META)

Schneider Downs Wealth Management Advisors LP acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 530 shares of the social networking company’s stock, valued at approximately $257,000.

Several other institutional investors have also bought and sold shares of META. BKM Wealth Management LLC purchased a new position in Meta Platforms in the fourth quarter valued at approximately $191,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Meta Platforms during the 4th quarter valued at $2,994,000. Unique Wealth LLC bought a new stake in Meta Platforms during the 4th quarter valued at $251,000. Ziegler Capital Management LLC raised its holdings in Meta Platforms by 1.8% during the 4th quarter. Ziegler Capital Management LLC now owns 85,408 shares of the social networking company’s stock valued at $30,225,000 after acquiring an additional 1,534 shares during the period. Finally, Ausdal Financial Partners Inc. raised its holdings in Meta Platforms by 2.6% during the 4th quarter. Ausdal Financial Partners Inc. now owns 5,422 shares of the social networking company’s stock valued at $1,919,000 after acquiring an additional 135 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

META has been the topic of a number of analyst reports. Truist Financial lowered their target price on shares of Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Stifel Nicolaus upped their price target on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Piper Sandler reaffirmed an “overweight” rating and issued a $545.00 price target (down previously from $600.00) on shares of Meta Platforms in a report on Thursday, April 25th. Wells Fargo & Company upped their price target on shares of Meta Platforms from $593.00 to $625.00 and gave the stock an “overweight” rating in a report on Monday, July 8th. Finally, Citigroup decreased their price target on shares of Meta Platforms from $590.00 to $550.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $518.50.

Insider Buying and Selling at Meta Platforms

In other news, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CTO Andrew Bosworth sold 5,058 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total value of $2,386,617.30. Following the sale, the chief technology officer now directly owns 15,412 shares in the company, valued at approximately $7,272,152.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 1,712 shares of the business’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $502.27, for a total transaction of $859,886.24. Following the completion of the sale, the chief executive officer now owns 129,888 shares in the company, valued at $65,238,845.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,596 shares of company stock worth $154,788,523. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

META stock traded up $11.00 on Thursday, hitting $472.99. The company had a trading volume of 3,317,191 shares, compared to its average volume of 16,156,778. Meta Platforms, Inc. has a 12-month low of $274.38 and a 12-month high of $542.81. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. The stock’s 50-day simple moving average is $493.38 and its 200 day simple moving average is $469.42. The stock has a market cap of $1.20 trillion, a price-to-earnings ratio of 27.16, a P/E/G ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The company had revenue of $36.46 billion for the quarter, compared to analysts’ expectations of $36.28 billion. Meta Platforms had a net margin of 32.06% and a return on equity of 32.03%. As a group, equities research analysts expect that Meta Platforms, Inc. will post 20.21 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued 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 yield of 0.42%. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.