MN Wealth Advisors LLC Purchases 76 Shares of Meta Platforms, Inc. (NASDAQ:META)

MN Wealth Advisors LLC lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,666 shares of the social networking company’s stock after acquiring an additional 76 shares during the period. MN Wealth Advisors LLC’s holdings in Meta Platforms were worth $840,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in META. Private Management Group Inc. grew its stake in shares of Meta Platforms by 4.7% in the 4th quarter. Private Management Group Inc. now owns 1,038 shares of the social networking company’s stock worth $367,000 after buying an additional 47 shares during the last quarter. Bfsg LLC boosted its holdings in Meta Platforms by 58.0% in the fourth quarter. Bfsg LLC now owns 3,265 shares of the social networking company’s stock worth $1,156,000 after acquiring an additional 1,198 shares in the last quarter. Hartline Investment Corp boosted its holdings in Meta Platforms by 15.4% in the fourth quarter. Hartline Investment Corp now owns 3,580 shares of the social networking company’s stock worth $1,267,000 after acquiring an additional 477 shares in the last quarter. Wynn Capital LLC purchased a new stake in shares of Meta Platforms in the fourth quarter worth $2,876,000. Finally, Carret Asset Management LLC increased its holdings in shares of Meta Platforms by 4.0% during the fourth quarter. Carret Asset Management LLC now owns 22,734 shares of the social networking company’s stock valued at $8,047,000 after acquiring an additional 867 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $476.69, for a total transaction of $431,404.45. Following the sale, the insider now owns 42,370 shares of the company’s stock, valued at approximately $20,197,355.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Sheryl Sandberg sold 105,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the transaction, the director now owns 630,293 shares in the company, valued at $300,466,976.03. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $476.69, for a total transaction of $431,404.45. Following the completion of the sale, the insider now owns 42,370 shares in the company, valued at $20,197,355.30. The disclosure for this sale can be found here. Insiders sold a total of 418,680 shares of company stock valued at $211,992,147 over the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

NASDAQ META opened at $528.00 on Friday. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 12 month low of $276.03 and a 12 month high of $544.23. The stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.33, a PEG ratio of 1.27 and a beta of 1.21. The company’s 50 day moving average is $502.48 and its two-hundred day moving average is $490.42.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS 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 for the quarter, compared to the consensus estimate of $38.26 billion. During the same period last year, the firm earned $3.23 EPS. The company’s revenue was up 22.1% on a year-over-year basis. As a group, research analysts anticipate that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on META shares. TD Securities upped their price target on shares of Meta Platforms from $530.00 to $600.00 in a research note on Wednesday, July 10th. BNP Paribas began coverage on shares of Meta Platforms in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price on the stock. Evercore ISI raised their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Truist Financial upped their price objective on Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Guggenheim lifted their target price on Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $574.41.

About Meta Platforms

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.