Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Circle Wealth Management LLC

Circle Wealth Management LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 41.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,603 shares of the social networking company’s stock after purchasing an additional 4,254 shares during the quarter. Circle Wealth Management LLC’s holdings in Meta Platforms were worth $7,363,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in META. Quest Partners LLC purchased a new stake in shares of Meta Platforms during the fourth quarter worth approximately $32,000. Clear Investment Research LLC grew its stake in 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 buying an additional 74 shares during the last quarter. Delos Wealth Advisors LLC grew its position in 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 during the last quarter. POM Investment Strategies LLC acquired a new position in Meta Platforms in the 2nd quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. raised its stake in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after purchasing an additional 44 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Loop Capital raised their target price on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. Morgan Stanley upped their target price on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. BMO Capital Markets restated a “market perform” rating and issued a $450.00 target price on shares of Meta Platforms in a report on Wednesday, June 12th. TD Cowen raised their price objective on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Wells Fargo & Company raised their target price on Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $578.92.

Meta Platforms Trading Up 0.5 %

NASDAQ:META opened at $564.41 on Tuesday. The stock has a fifty day simple moving average of $507.58 and a 200 day simple moving average of $497.28. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 32.42, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $573.98. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

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

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be issued 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 0.35%. Meta Platforms’s payout ratio is currently 11.49%.

Insider Activity

In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $510.88, for a total value of $8,532,717.76. Following the completion of the sale, the chief executive officer now directly owns 230,461 shares of the company’s stock, valued at approximately $117,737,915.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total value of $8,532,717.76. Following the completion of the transaction, the chief executive officer now owns 230,461 shares in the company, valued at approximately $117,737,915.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 365,761 shares of company stock worth $190,846,038. 13.71% of the stock is owned by corporate insiders.

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.