TRUE Private Wealth Advisors Has $2.18 Million Stock Position in Meta Platforms, Inc. (NASDAQ:META)

TRUE Private Wealth Advisors cut its holdings in Meta Platforms, Inc. (NASDAQ:META) by 1.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,315 shares of the social networking company’s stock after selling 66 shares during the period. TRUE Private Wealth Advisors’ holdings in Meta Platforms were worth $2,176,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in META. S.A. Mason LLC increased its position in shares of Meta Platforms by 1.5% during the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after buying an additional 20 shares during the period. Horizon Bancorp Inc. IN lifted its stake in Meta Platforms by 2.0% in the 1st quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after purchasing an additional 21 shares in the last quarter. Northern Capital Management Inc. boosted its holdings in Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after purchasing an additional 21 shares during the period. Buckingham Capital Management Inc. grew its position in shares of Meta Platforms by 5.1% during the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after purchasing an additional 21 shares in the last quarter. Finally, LongView Wealth Management increased its holdings in shares of Meta Platforms by 1.3% in the first quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after purchasing an additional 22 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on META. KeyCorp boosted their target price on Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. JMP Securities restated a “market outperform” rating and issued a $525.00 price objective on shares of Meta Platforms in a research report on Tuesday, July 30th. UBS Group lifted their target price on shares of Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. Finally, Loop Capital upped their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, two have issued 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $572.51.

Meta Platforms Stock Performance

Shares of NASDAQ META traded down $1.78 during midday trading on Wednesday, hitting $526.76. 10,771,298 shares of the stock traded hands, compared to its average volume of 16,373,998. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81. The firm has a market capitalization of $1.34 trillion, a P/E ratio of 30.35, a PEG ratio of 1.27 and a beta of 1.21. The firm has a 50-day moving average of $498.29 and a two-hundred day moving average of $485.68.

Meta Platforms (NASDAQ:META) last posted its 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 company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.23 earnings per share. On average, equities analysts forecast that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.38%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $467.57, for a total value of $423,150.85. Following the completion of the sale, the insider now owns 43,275 shares in the company, valued at $20,234,091.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $533.87, for a total transaction of $8,916,696.74. Following the sale, the chief executive officer now owns 151,918 shares in the company, valued at $81,104,462.66. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total transaction of $423,150.85. Following the transaction, the insider now directly owns 43,275 shares of the company’s stock, valued at $20,234,091.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 315,770 shares of company stock valued at $157,719,910. Insiders own 13.71% of the company’s stock.

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.