Diversify Wealth Management LLC Invests $2.18 Million in Meta Platforms, Inc. (NASDAQ:META)

Diversify Wealth Management LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,581 shares of the social networking company’s stock, valued at approximately $2,179,000.

A number of other large investors have also made changes to their positions in the business. S.A. Mason LLC increased its position in shares of Meta Platforms by 1.5% during 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 in the last quarter. Horizon Bancorp Inc. IN increased its position in shares of Meta Platforms by 2.0% during the first quarter. Horizon Bancorp Inc. IN now owns 1,057 shares of the social networking company’s stock worth $513,000 after purchasing an additional 21 shares in the last quarter. Northern Capital Management Inc. increased its position in shares of Meta Platforms by 3.4% in the 1st quarter. Northern Capital Management Inc. now owns 647 shares of the social networking company’s stock valued at $314,000 after acquiring an additional 21 shares during the period. Buckingham Capital Management Inc. increased its position in shares of Meta Platforms by 5.1% in 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 increased its position in shares of Meta Platforms by 1.3% in the 1st quarter. LongView Wealth Management now owns 1,762 shares of the social networking company’s stock valued at $856,000 after acquiring an additional 22 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on META shares. Roth Mkm upped their target price on Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler upped their target price on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group upped their target price on Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Evercore ISI upped their target price on Meta Platforms from $550.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Finally, Barclays upped their target price on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” 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 given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $577.26.

Meta Platforms Trading Up 0.6 %

Shares of Meta Platforms stock opened at $536.32 on Wednesday. The firm has a market capitalization of $1.36 trillion, a PE ratio of 30.80, a P/E/G ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23. The firm’s 50-day moving average price is $505.34 and its 200 day moving average price is $496.05. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued 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. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same period last year, the company posted $3.23 EPS. On average, sell-side analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be issued 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 yield of 0.37%. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total value of $17,101,342.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Javier Olivan sold 413 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the completion of the sale, the chief operating officer now owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 357,987 shares of company stock worth $185,802,769. Insiders own 13.71% of the company’s stock.

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.