828 Shares in Meta Platforms, Inc. (NASDAQ:META) Acquired by Spectrum Planning & Advisory Services Inc.

Spectrum Planning & Advisory Services Inc. acquired a new stake in Meta Platforms, Inc. (NASDAQ:META) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 828 shares of the social networking company’s stock, valued at approximately $430,000.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Meta Platforms during the 4th quarter worth approximately $11,285,855,000. Capital Research Global Investors boosted its stake in shares of Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after buying an additional 4,440,229 shares during the period. Concentrum Wealth Management grew its position in Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares in the last quarter. Vanguard Group Inc. increased its stake in Meta Platforms by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after acquiring an additional 3,104,550 shares during the period. Finally, Jennison Associates LLC raised its holdings in Meta Platforms by 24.7% in the 1st quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after acquiring an additional 2,748,620 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $527.42 on Monday. The stock’s 50 day moving average is $500.48 and its 200 day moving average is $488.50. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81. The firm has a market cap of $1.34 trillion, a P/E ratio of 30.29, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the previous year, the company earned $3.23 EPS. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, research analysts expect that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders 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 dividend on an annualized basis and a yield of 0.38%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Insiders Place Their Bets

In other news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the transaction, the chief operating officer now directly owns 15,376 shares of the company’s stock, valued at approximately $7,268,235.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the transaction, the chief operating officer now owns 15,376 shares in the company, valued at approximately $7,268,235.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $476.69, for a total transaction of $431,404.45. Following the completion of the sale, the insider now directly owns 42,370 shares of the company’s stock, valued at $20,197,355.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 349,174 shares of company stock worth $175,146,777. Company insiders own 13.71% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on META shares. Canaccord Genuity Group reduced their target price on Meta Platforms from $610.00 to $575.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. raised their target price on shares of Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Sanford C. Bernstein upped their price target on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Roth Mkm increased their price target on shares of Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Wedbush restated an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and an average target price of $574.41.

Meta Platforms 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.