Meta Platforms, Inc. (NASDAQ:META) Stock Position Raised by E&G Advisors LP

E&G Advisors LP grew its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 3.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,390 shares of the social networking company’s stock after buying an additional 252 shares during the quarter. Meta Platforms makes up about 1.1% of E&G Advisors LP’s investment portfolio, making the stock its 17th largest holding. E&G Advisors LP’s holdings in Meta Platforms were worth $3,726,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Quest Partners LLC bought a new position in Meta Platforms during the fourth quarter valued at about $32,000. Clear Investment Research LLC boosted its position 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 purchasing an additional 74 shares during the period. Delos Wealth Advisors LLC boosted its position 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 purchasing an additional 58 shares during the period. Ruedi Wealth Management Inc. grew its holdings in Meta Platforms by 122.2% during 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 during the last quarter. Finally, Richardson Financial Services Inc. raised its position in shares of Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after purchasing an additional 43 shares during the period. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the transaction, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the sale, the chief executive officer now directly owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total transaction of $483,224.75. Following the completion of the transaction, the insider now directly owns 36,940 shares in the company, valued at $19,724,113. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 349,174 shares of company stock worth $175,146,777. Insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $527.42 on Monday. The business has a fifty day moving average of $500.48 and a 200-day moving average of $488.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $542.81. The firm has a market cap of $1.34 trillion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the company posted $3.23 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is 11.49%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Oppenheimer increased their target price on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Loop Capital lifted their price target on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a report on Thursday, August 1st. Finally, Susquehanna raised their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $574.41.

Read Our Latest Analysis on META

Meta Platforms Company Profile

(Free Report)

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.

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