Paces Ferry Wealth Advisors LLC Has $2.02 Million Position in Meta Platforms, Inc. (NASDAQ:META)

Paces Ferry Wealth Advisors LLC lessened its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 3.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,000 shares of the social networking company’s stock after selling 124 shares during the period. Meta Platforms accounts for 1.2% of Paces Ferry Wealth Advisors LLC’s portfolio, making the stock its 21st largest holding. Paces Ferry Wealth Advisors LLC’s holdings in Meta Platforms were worth $2,017,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Seven Eight Capital LP bought a new stake in shares of Meta Platforms during the 2nd quarter worth $2,726,000. Elo Mutual Pension Insurance Co boosted its holdings in Meta Platforms by 0.7% during the second quarter. Elo Mutual Pension Insurance Co now owns 204,273 shares of the social networking company’s stock valued at $102,999,000 after acquiring an additional 1,463 shares during the period. CloudAlpha Capital Management Limited Hong Kong grew its position in shares of Meta Platforms by 9.1% in the second quarter. CloudAlpha Capital Management Limited Hong Kong now owns 176,180 shares of the social networking company’s stock valued at $88,833,000 after purchasing an additional 14,680 shares during the last quarter. Waterloo Capital L.P. increased its stake in shares of Meta Platforms by 82.2% in the second quarter. Waterloo Capital L.P. now owns 6,709 shares of the social networking company’s stock worth $3,383,000 after purchasing an additional 3,026 shares during the period. Finally, Blair William & Co. IL lifted its position in shares of Meta Platforms by 6.4% during the 2nd quarter. Blair William & Co. IL now owns 331,266 shares of the social networking company’s stock worth $167,031,000 after purchasing an additional 19,899 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $450.00 price target on shares of Meta Platforms in a research report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. TD Cowen raised their price target on shares of Meta Platforms from $530.00 to $600.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Finally, TD Securities lifted their price objective on Meta Platforms from $530.00 to $600.00 in a report on Wednesday, July 10th. Two research 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $577.26.

Insider Activity

In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CTO Andrew Bosworth sold 5,057 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jennifer Newstead sold 901 shares of Meta Platforms stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $451.15, for a total transaction of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares in the company, valued at approximately $15,034,122.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 356,426 shares of company stock valued at $185,053,425. 13.71% of the stock is currently owned by insiders.

Meta Platforms Price Performance

META opened at $561.35 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a market capitalization of $1.42 trillion, a P/E ratio of 32.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The company’s 50 day simple moving average is $506.33 and its 200-day simple moving average is $496.78. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $564.50.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company earned $3.23 EPS. Sell-side analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s payout ratio is presently 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.