Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Goodman Advisory Group LLC

Goodman Advisory Group LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 23.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 3,701 shares of the social networking company’s stock after buying an additional 709 shares during the quarter. Goodman Advisory Group LLC’s holdings in Meta Platforms were worth $1,866,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. S.A. Mason LLC boosted its stake in Meta Platforms by 1.5% during the 1st quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock valued at $645,000 after purchasing an additional 20 shares during the period. Horizon Bancorp Inc. IN boosted its position in shares of Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after buying an additional 21 shares during the period. Northern Capital Management Inc. boosted its position in shares of Meta Platforms by 3.4% during the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after buying an additional 21 shares during the period. Buckingham Capital Management Inc. grew its holdings in Meta Platforms by 5.1% in the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock worth $218,000 after buying an additional 21 shares in the last quarter. Finally, LongView Wealth Management increased its position in Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after acquiring an additional 22 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Activity

In other Meta Platforms news, insider Christopher K. Cox sold 10,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $569.93, for a total value of $5,699,300.00. Following the completion of the sale, the insider now owns 328,662 shares of the company’s stock, valued at $187,314,333.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Christopher K. Cox sold 10,000 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $569.93, for a total transaction of $5,699,300.00. Following the sale, the insider now owns 328,662 shares of the company’s stock, valued at $187,314,333.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 342,358 shares of company stock worth $179,431,101. 13.71% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on META shares. Wells Fargo & Company increased their price target on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Raymond James boosted their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 1st. TD Cowen increased their price objective on shares of Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Wedbush restated an “outperform” rating and issued a $600.00 target price on shares of Meta Platforms in a research report on Thursday. Finally, TD Securities lifted their price target on Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $591.23.

Meta Platforms Trading Down 0.1 %

NASDAQ META opened at $567.36 on Friday. The company has a market capitalization of $1.44 trillion, a PE ratio of 32.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $577.40. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The firm’s fifty day simple moving average is $516.19 and its 200-day simple moving average is $499.60.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period last year, the business earned $3.23 EPS. As a group, 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 declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.