Angeles Wealth Management LLC Purchases 1,098 Shares of Meta Platforms, Inc. (NASDAQ:META)

Angeles Wealth Management LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,195 shares of the social networking company’s stock after purchasing an additional 1,098 shares during the period. Angeles Wealth Management LLC’s holdings in Meta Platforms were worth $4,132,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Meta Platforms by 0.4% in the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after acquiring an additional 831,047 shares during the period. Capital World Investors grew its position in Meta Platforms by 0.6% in the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after acquiring an additional 244,803 shares during the period. Capital International Investors grew its position in Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after acquiring an additional 1,083,719 shares during the period. Capital Research Global Investors grew its position in Meta Platforms by 14.5% in the first quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after acquiring an additional 4,379,826 shares during the period. Finally, Norges Bank bought a new stake in Meta Platforms in the fourth quarter valued at $11,285,855,000. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95. Following the completion of the transaction, the insider now directly owns 38,750 shares in the company, valued at $19,258,362.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95. Following the completion of the transaction, the insider now directly owns 38,750 shares of the company’s stock, valued at $19,258,362.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the 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 $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 357,574 shares of company stock worth $185,587,773. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Stock Down 0.2 %

Shares of Meta Platforms stock opened at $524.62 on Friday. Meta Platforms, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23. The business has a 50-day moving average of $505.13 and a two-hundred day moving average of $495.37. The company has a market capitalization of $1.33 trillion, a P/E ratio of 30.13, a price-to-earnings-growth ratio of 1.26 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.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. The company had revenue of $39.07 billion during 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%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.23 earnings per share. As a group, equities analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. Meta Platforms’s payout ratio is presently 11.49%.

Analyst Ratings Changes

META has been the topic of a number of analyst reports. Needham & Company LLC reiterated an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Susquehanna boosted their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. DA Davidson assumed coverage on Meta Platforms in a research note on Tuesday. They issued a “buy” rating and a $600.00 price objective on the stock. Guggenheim boosted their price objective on Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Loop Capital boosted their price objective on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $577.26.

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.