Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by CBIZ Investment Advisory Services LLC

CBIZ Investment Advisory Services LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 246.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 156 shares of the social networking company’s stock after purchasing an additional 111 shares during the period. CBIZ Investment Advisory Services LLC’s holdings in Meta Platforms were worth $79,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in META. Quest Partners LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $32,000. Clear Investment Research LLC boosted its position in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares in the last quarter. Delos Wealth Advisors LLC boosted its position 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 worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms in the 2nd quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. increased its holdings in shares of Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Up 0.6 %

Shares of NASDAQ:META opened at $536.32 on Wednesday. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23. The stock has a 50-day simple moving average of $505.34 and a 200-day simple moving average of $496.05. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $1.36 trillion, a P/E ratio of 30.80, a PEG ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the firm posted $3.23 earnings per share. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. Equities analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,054 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $501.05, for a total transaction of $1,029,156.70. Following the completion of the sale, the chief executive officer now owns 253,000 shares of the company’s stock, valued at $126,765,650. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 2,054 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $501.05, for a total value of $1,029,156.70. Following the completion of the sale, the chief executive officer now owns 253,000 shares of the company’s stock, valued at $126,765,650. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 357,987 shares of company stock valued at $185,802,769. 13.71% of the stock is currently owned by insiders.

Analysts Set New Price Targets

META has been the topic of several recent analyst reports. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Bank of America raised their price objective on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their target price on Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Guggenheim raised their price target on Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Benchmark reiterated a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and a consensus price target of $577.26.

About Meta Platforms

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.