NRI Wealth Management LC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

NRI Wealth Management LC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 994 shares of the social networking company’s stock, valued at approximately $501,000. Meta Platforms makes up about 0.4% of NRI Wealth Management LC’s investment portfolio, making the stock its 21st largest position.

Several other large investors have also added to or reduced their stakes in the stock. S.A. Mason LLC lifted its stake in Meta Platforms by 1.5% in the first quarter. S.A. Mason LLC now owns 1,328 shares of the social networking company’s stock worth $645,000 after purchasing an additional 20 shares during the last quarter. Horizon Bancorp Inc. IN increased its holdings in shares of Meta Platforms by 2.0% in the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after buying an additional 21 shares during the period. Northern Capital Management Inc. increased its holdings in shares of Meta Platforms by 3.4% in the first quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock worth $314,000 after buying an additional 21 shares during the period. Buckingham Capital Management Inc. boosted its holdings in Meta Platforms by 5.1% during the 2nd quarter. Buckingham Capital Management Inc. now owns 433 shares of the social networking company’s stock valued at $218,000 after acquiring an additional 21 shares during the period. Finally, LongView Wealth Management grew its position in Meta Platforms by 1.3% during the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock worth $856,000 after acquiring an additional 22 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Meta Platforms from $525.00 to $585.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. UBS Group raised their price target on shares of Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Morgan Stanley upped their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Rosenblatt Securities raised their target price on Meta Platforms from $562.00 to $643.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $577.26.

Insider Activity

In other Meta Platforms news, CEO Mark Zuckerberg sold 150 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the sale, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at $62,254,449.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $502.00, for a total transaction of $206,824.00. Following the completion of the sale, the chief operating officer now directly owns 7,619 shares of the company’s stock, valued at approximately $3,824,738. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares in the company, valued at approximately $62,254,449.63. The disclosure for this sale can be found here. Insiders have sold 357,574 shares of company stock worth $185,587,773 in the last three months. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Up 2.7 %

NASDAQ:META opened at $525.60 on Friday. The firm has a market capitalization of $1.33 trillion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 1.23 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. The business has a fifty day moving average price of $505.44 and a 200-day moving average price of $495.07. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $544.23.

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

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. Meta Platforms’s dividend payout ratio (DPR) is presently 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.