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

Certus Wealth Management LLC bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 440 shares of the social networking company’s stock, valued at approximately $222,000.

Several other institutional investors and hedge funds also recently bought and sold shares of META. Quest Partners LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $32,000. Clear Investment Research LLC lifted its holdings in shares of Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after buying an additional 74 shares during the last quarter. Delos Wealth Advisors LLC lifted its holdings in shares of Meta Platforms by 527.3% during the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in shares of Meta Platforms during the 2nd quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on META. Wolfe Research began coverage on Meta Platforms in a report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target for the company. Oppenheimer lifted their price target on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Wedbush reiterated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a report on Wednesday, July 24th. Wells Fargo & Company boosted their target price on Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Finally, Roth Mkm boosted their target price on Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two research 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $576.66.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the transaction, the chief technology officer now owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $500.00, for a total value of $452,500.00. Following the transaction, the insider now owns 40,560 shares of the company’s stock, valued at $20,280,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the transaction, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The disclosure for this sale can be found here. Insiders have sold 390,977 shares of company stock worth $202,384,548 over the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $500.27 on Friday. The business’s fifty day moving average price is $505.18 and its two-hundred day moving average price is $494.28. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The stock has a market capitalization of $1.27 trillion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 1.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the prior year, the business posted $3.23 earnings per share. The business’s revenue was up 22.1% compared to the same quarter last year. As a group, analysts predict that Meta Platforms, Inc. will post 21.3 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

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.