Meta Platforms, Inc. (NASDAQ:META) Shares Sold by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. trimmed its position in Meta Platforms, Inc. (NASDAQ:META) by 1.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,978 shares of the social networking company’s stock after selling 844 shares during the quarter. Meta Platforms makes up approximately 2.0% of Ameritas Investment Partners Inc.’s portfolio, making the stock its 10th largest position. Ameritas Investment Partners Inc.’s holdings in Meta Platforms were worth $33,772,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in META. Quest Partners LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth approximately $32,000. Clear Investment Research LLC boosted its holdings in shares of Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares during the period. Delos Wealth Advisors LLC lifted its stake in Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the second quarter valued at approximately $38,000. Finally, Ruedi Wealth Management Inc. lifted its stake in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Up 0.4 %

Shares of META stock opened at $561.35 on Monday. Meta Platforms, Inc. has a 52-week low of $279.40 and a 52-week high of $564.50. The stock has a market cap of $1.42 trillion, a price-to-earnings ratio of 32.24, a P/E/G ratio of 1.26 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a fifty day moving average of $507.58 and a 200-day moving average of $497.27.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping 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 analyst estimates of $38.26 billion. During the same quarter in the prior year, the firm earned $3.23 EPS. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. On average, equities research analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced 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. This represents a $2.00 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Insider Transactions at Meta Platforms

In other news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total value of $486,636.60. Following the sale, the insider now owns 36,912 shares of the company’s stock, valued at approximately $19,848,320.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $537.72, for a total transaction of $486,636.60. Following the sale, the insider now owns 36,912 shares of the company’s stock, valued at approximately $19,848,320.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Mark Zuckerberg sold 150 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total transaction of $75,073.50. Following the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at approximately $62,254,449.63. The disclosure for this sale can be found here. In the last quarter, insiders have sold 346,666 shares of company stock valued at $180,145,414. 13.71% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Jefferies Financial Group lifted their target price on shares of Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Raymond James lifted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the company a “strong-buy” rating in a research note on Monday, July 1st. KeyCorp lifted their target price on shares of Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wedbush reiterated an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research note on Wednesday, July 24th. Finally, TD Cowen lifted their target price on shares of Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Two equities research 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus 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.