Meta Platforms, Inc. (NASDAQ:META) Stock Position Raised by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 9.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,117,677 shares of the social networking company’s stock after acquiring an additional 177,752 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Meta Platforms worth $1,067,775,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of META. Vantage Financial Partners LLC boosted its position in shares of Meta Platforms by 3.2% in the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after buying an additional 41 shares during the period. Concentrum Wealth Management boosted its position in 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 worth $2,616,000 after acquiring an additional 3,888,308 shares during the period. Aveo Capital Partners LLC grew its stake in 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 acquiring an additional 722 shares in the last quarter. 9258 Wealth Management LLC increased its holdings in shares of Meta Platforms by 66.4% in 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 period. Finally, Rollins Financial lifted its position in shares of Meta Platforms by 7.5% in the fourth quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock worth $10,851,000 after purchasing an additional 2,133 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Meta Platforms

In related news, COO Javier Olivan sold 412 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now directly owns 7,619 shares in the company, valued at $3,824,738. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total value of $449,775.95. Following the completion of the transaction, the insider now owns 38,750 shares of the company’s stock, valued at $19,258,362.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $502.00, for a total transaction of $206,824.00. Following the sale, the chief operating officer now directly owns 7,619 shares in the company, valued at $3,824,738. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 357,574 shares of company stock valued at $185,587,773. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Price Performance

META opened at $533.28 on Tuesday. The stock has a market cap of $1.35 trillion, a P/E ratio of 30.63, a P/E/G ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a 12 month low of $279.40 and a 12 month 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 company has a fifty day simple moving average of $505.21 and a 200 day simple moving average of $495.81.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results 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. The company had revenue of $39.07 billion during 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 company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period in the prior year, the company earned $3.23 earnings per share. On average, research analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Monday, September 16th. Meta Platforms’s payout ratio is currently 11.49%.

Analysts Set New Price Targets

META has been the topic of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $525.00 price objective on shares of Meta Platforms in a research report on Tuesday, July 30th. Stifel Nicolaus increased their price objective on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Wedbush reissued an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a research note on Wednesday, July 24th. JPMorgan Chase & Co. upped their target price on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird lifted their price target on shares of Meta Platforms from $500.00 to $530.00 and gave the company an “outperform” rating in a research 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 given a strong buy rating to the stock. According to MarketBeat, Meta Platforms has an average rating of “Moderate Buy” and an average price target of $577.26.

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.