Delta Financial Advisors LLC Purchases 80 Shares of Meta Platforms, Inc. (NASDAQ:META)

Delta Financial Advisors LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 1.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,310 shares of the social networking company’s stock after buying an additional 80 shares during the quarter. Delta Financial Advisors LLC’s holdings in Meta Platforms were worth $2,173,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of META. Quest Partners LLC acquired a new position in shares of Meta Platforms during the 4th quarter worth about $32,000. Clear Investment Research LLC raised its holdings in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Delos Wealth Advisors LLC raised its holdings in Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after acquiring an additional 58 shares in the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms during the second quarter valued at approximately $38,000. Finally, Ruedi Wealth Management Inc. grew its stake in Meta Platforms by 122.2% in the second 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. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group upped their price objective on Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Truist Financial upped their target price on shares of Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company lifted their price target on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research note on Wednesday, September 4th. Finally, Susquehanna lifted their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $577.26.

Insider Activity at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $502.00, for a total transaction of $206,824.00. Following the sale, the chief operating officer now directly owns 7,619 shares in the company, valued at $3,824,738. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $2,663,825.32. Following the completion of the transaction, the chief technology officer now owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 373,371 shares of company stock valued at $193,535,153. 13.71% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $511.83 on Thursday. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23. The stock has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 29.40, a price-to-earnings-growth ratio of 1.23 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 2.83. The company’s 50 day simple moving average is $505.12 and its 200 day simple moving average is $494.86.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter in the previous year, the firm earned $3.23 EPS. Meta Platforms’s revenue was up 22.1% on a year-over-year basis. As a group, research analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be paid a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. Meta Platforms’s payout ratio is currently 11.49%.

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.