Pinion Investment Advisors LLC Purchases 763 Shares of Meta Platforms, Inc. (NASDAQ:META)

Pinion Investment Advisors LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 122.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,388 shares of the social networking company’s stock after acquiring an additional 763 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Meta Platforms were worth $700,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baird Financial Group Inc. increased its position in shares of Meta Platforms by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after acquiring an additional 163,067 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Meta Platforms by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after acquiring an additional 51,900 shares during the last quarter. Voyager Global Management LP increased its position in shares of Meta Platforms by 37.3% in the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after acquiring an additional 140,000 shares during the last quarter. Gradient Investments LLC increased its position in shares of Meta Platforms by 8.9% in the second quarter. Gradient Investments LLC now owns 72,587 shares of the social networking company’s stock valued at $36,600,000 after acquiring an additional 5,953 shares during the last quarter. Finally, Baillie Gifford & Co. increased its position in Meta Platforms by 14.0% during the first quarter. Baillie Gifford & Co. now owns 6,101,501 shares of the social networking company’s stock worth $2,962,767,000 after buying an additional 748,076 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analyst Ratings Changes

META has been the topic of a number of recent analyst reports. Tigress Financial boosted their price target on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research report on Friday, August 16th. BMO Capital Markets reissued a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research report on Wednesday, June 12th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price target on Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. boosted their price target on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $577.26.

Insider Transactions at Meta Platforms

In other news, COO Javier Olivan sold 412 shares of the company’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 completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. In related news, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $502.00, for a total value of $206,824.00. Following the completion of the sale, the chief operating officer now directly owns 7,619 shares in the company, valued at $3,824,738. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the completion of the sale, the chief technology officer now owns 11,990 shares of the company’s stock, valued at $6,315,852.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 357,987 shares of company stock worth $185,802,769. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 0.6 %

NASDAQ META opened at $536.32 on Wednesday. The business has a fifty day moving average price of $505.34 and a two-hundred day moving average price of $496.05. 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 fifty-two week low of $279.40 and a fifty-two week high of $544.23. The stock has a market capitalization of $1.36 trillion, a PE ratio of 30.80, a PEG ratio of 1.26 and a beta of 1.21.

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 net margin of 34.34% and a return on equity of 34.16%. 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 business earned $3.23 earnings per share. Equities analysts expect that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.37%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

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.