Fairway Wealth LLC Acquires Shares of 187 Meta Platforms, Inc. (NASDAQ:META)

Fairway Wealth LLC bought a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 187 shares of the social networking company’s stock, valued at approximately $94,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Meta Platforms by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares during the last quarter. Capital World Investors lifted its stake in shares of Meta Platforms by 0.6% in the first quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock worth $18,597,382,000 after acquiring an additional 244,803 shares in the last quarter. Capital International Investors boosted its holdings in Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock valued at $12,296,383,000 after purchasing an additional 1,083,719 shares during the last quarter. Capital Research Global Investors grew its stake in Meta Platforms by 14.5% during the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock valued at $16,799,612,000 after purchasing an additional 4,379,826 shares in the last quarter. Finally, Sanders Capital LLC increased its holdings in Meta Platforms by 2.4% during the 4th quarter. Sanders Capital LLC now owns 14,569,705 shares of the social networking company’s stock worth $5,157,093,000 after purchasing an additional 344,384 shares during the last quarter. 79.91% of the stock is currently owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 3.9 %

Meta Platforms stock opened at $559.10 on Friday. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $562.07. The stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 32.11, a PEG ratio of 1.26 and a beta of 1.21. The company’s 50-day moving average price is $505.40 and its two-hundred day moving average price is $496.34. 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 posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm posted $3.23 earnings per share. On average, analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Announces Dividend

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 issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insider Activity at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the sale, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Jennifer Newstead sold 901 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at $15,034,122.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 9,760 shares of Meta Platforms stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $502.87, for a total transaction of $4,908,011.20. Following the completion of the transaction, the chief executive officer now owns 247,915 shares in the company, valued at approximately $124,669,016.05. The disclosure for this sale can be found here. Insiders sold 356,426 shares of company stock valued at $185,053,425 over the last 90 days. 13.71% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on META. Bank of America raised their price target on shares of Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Roth Mkm raised their price objective on shares of Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JMP Securities restated a “market outperform” rating and issued a $525.00 target price on shares of Meta Platforms in a research note on Tuesday, July 30th. KeyCorp lifted their price target on Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Royal Bank of Canada restated an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research note on Thursday, August 1st. Two 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $577.26.

Meta Platforms 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.