AA Financial Advisors LLC Purchases New Position in Meta Platforms, Inc. (NASDAQ:META)

AA Financial Advisors LLC acquired a new position in Meta Platforms, Inc. (NASDAQ:META) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,930 shares of the social networking company’s stock, valued at approximately $937,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of META. Modera Wealth Management LLC boosted its holdings in Meta Platforms by 8.5% in the third quarter. Modera Wealth Management LLC now owns 7,775 shares of the social networking company’s stock valued at $2,334,000 after acquiring an additional 607 shares during the last quarter. Raleigh Capital Management Inc. boosted its holdings in Meta Platforms by 180.1% in the third quarter. Raleigh Capital Management Inc. now owns 902 shares of the social networking company’s stock valued at $271,000 after acquiring an additional 580 shares during the last quarter. Financial Insights Inc. bought a new position in Meta Platforms in the third quarter valued at about $719,000. Dagco Inc. boosted its holdings in Meta Platforms by 4,788.7% in the third quarter. Dagco Inc. now owns 52,847 shares of the social networking company’s stock valued at $15,865,000 after acquiring an additional 51,766 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in Meta Platforms by 3.6% in the third quarter. Sunbelt Securities Inc. now owns 11,021 shares of the social networking company’s stock valued at $3,309,000 after acquiring an additional 378 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on META. Roth Mkm raised their price target on Meta Platforms from $500.00 to $510.00 and gave the company a “buy” rating in a report on Thursday, April 25th. TD Cowen increased their target price on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday. Wolfe Research cut their target price on Meta Platforms from $530.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft cut their target price on Meta Platforms from $540.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Finally, Robert W. Baird cut their target price on Meta Platforms from $525.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $515.64.

Meta Platforms Trading Down 0.1 %

Shares of META stock opened at $534.04 on Thursday. The stock’s fifty day simple moving average is $490.20 and its 200 day simple moving average is $464.66. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $542.81. The firm has a market capitalization of $1.35 trillion, a P/E ratio of 30.71, a P/E/G ratio of 1.37 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. The firm had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. As a group, sell-side analysts predict that Meta Platforms, Inc. will post 20.15 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $533.87, for a total transaction of $8,916,696.74. Following the transaction, the chief executive officer now directly owns 151,918 shares of the company’s stock, valued at approximately $81,104,462.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Jennifer Newstead sold 585 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $498.59, for a total value of $291,675.15. Following the completion of the sale, the insider now directly owns 37,813 shares of the company’s stock, valued at $18,853,183.67. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $533.87, for a total value of $8,916,696.74. Following the completion of the sale, the chief executive officer now directly owns 151,918 shares of the company’s stock, valued at $81,104,462.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 294,768 shares of company stock valued at $146,314,257. 13.71% of the stock is owned by company insiders.

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.