Strategic Financial Concepts LLC Buys 563,231 Shares of Meta Platforms, Inc. (NASDAQ:META)

Strategic Financial Concepts LLC raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 56,892.0% during the 2nd quarter, Holdings Channel reports. The fund owned 564,221 shares of the social networking company’s stock after purchasing an additional 563,231 shares during the period. Strategic Financial Concepts LLC’s holdings in Meta Platforms were worth $2,845,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of META. Vantage Financial Partners LLC lifted its holdings in shares of Meta Platforms by 3.2% during the 4th quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock valued at $468,000 after purchasing an additional 41 shares during the last quarter. Concentrum Wealth Management lifted its holdings in shares of Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after purchasing an additional 3,888,308 shares during the last quarter. Aveo Capital Partners LLC lifted its holdings in shares of Meta Platforms by 45.7% during the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock valued at $815,000 after purchasing an additional 722 shares during the last quarter. 9258 Wealth Management LLC lifted its holdings in shares of Meta Platforms by 66.4% during the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock valued at $1,413,000 after purchasing an additional 1,594 shares during the last quarter. Finally, Rollins Financial lifted its holdings in shares of Meta Platforms by 7.5% during the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after purchasing an additional 2,133 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on META. BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a report on Wednesday, June 12th. JPMorgan Chase & Co. increased their price objective on Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Citigroup raised their target price on Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Guggenheim raised their target price on Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $577.26.

Insider Buying and Selling

In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $505.75, for a total value of $208,369.00. Following the completion of the sale, the chief operating officer now owns 8,031 shares in the company, valued at $4,061,678.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 373,783 shares of company stock worth $193,743,522. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

NASDAQ:META opened at $504.79 on Wednesday. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $544.23. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $1.28 trillion, a PE ratio of 28.99, a price-to-earnings-growth ratio of 1.23 and a beta of 1.21. The stock’s 50-day moving average price is $505.09 and its 200-day moving average price is $494.74.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period in the previous year, the firm posted $3.23 EPS. Meta Platforms’s revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

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.