Ullmann Wealth Partners Group LLC Acquires 78 Shares of Meta Platforms, Inc. (NASDAQ:META)

Ullmann Wealth Partners Group LLC boosted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.2% in the 2nd quarter, Holdings Channel reports. The firm owned 1,918 shares of the social networking company’s stock after buying an additional 78 shares during the period. Ullmann Wealth Partners Group LLC’s holdings in Meta Platforms were worth $967,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in META. Capital Research Global Investors lifted its stake in Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management increased its holdings in shares of Meta Platforms by 111.0% during the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after buying an additional 3,888,308 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Meta Platforms by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after buying an additional 3,104,550 shares in the last quarter. Jennison Associates LLC increased its holdings in shares of Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after buying an additional 2,748,620 shares in the last quarter. Finally, Morningstar Investment Services LLC acquired a new position in shares of Meta Platforms during the fourth quarter worth $406,316,000. 79.91% of the stock is currently owned by institutional investors.

Meta Platforms Price Performance

META stock opened at $524.62 on Monday. The stock has a market capitalization of $1.33 trillion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. The company’s 50-day moving average is $505.13 and its 200-day moving average is $495.51. 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, Inc. has a 1 year low of $279.40 and a 1 year high of $544.23.

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 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 business had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same quarter last year, the firm earned $3.23 EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities research analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, September 16th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.38%. Meta Platforms’s payout ratio is 11.49%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on META shares. Piper Sandler upped their price target on shares of Meta Platforms from $545.00 to $575.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Stifel Nicolaus upped their price target on shares of Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Guggenheim upped their price target on shares of Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group upped their price target on shares of Meta Platforms from $522.00 to $555.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Bank of America increased their price objective on Meta Platforms from $550.00 to $563.00 and gave the company 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-four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $577.26.

Insider Activity at Meta Platforms

In related news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $502.00, for a total value of $206,824.00. Following the transaction, the chief operating officer now 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 through this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $510.88, for a total value of $8,532,717.76. Following the completion of the sale, the chief executive officer now owns 230,461 shares in the company, valued at approximately $117,737,915.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Javier Olivan sold 412 shares of the stock in a transaction dated 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 owns 7,619 shares of the company’s stock, valued at approximately $3,824,738. The disclosure for this sale can be found here. In the last quarter, insiders have sold 357,574 shares of company stock valued at $185,587,773. 13.71% of the stock is owned by corporate insiders.

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.