Insigneo Advisory Services LLC Acquires 2,225 Shares of Meta Platforms, Inc. (NASDAQ:META)

Insigneo Advisory Services LLC grew its holdings in Meta Platforms, Inc. (NASDAQ:META) by 5.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,878 shares of the social networking company’s stock after purchasing an additional 2,225 shares during the period. Meta Platforms comprises approximately 2.0% of Insigneo Advisory Services LLC’s investment portfolio, making the stock its 9th biggest holding. Insigneo Advisory Services LLC’s holdings in Meta Platforms were worth $18,971,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors grew its stake in shares of Meta Platforms by 17.2% in the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after buying an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management grew its stake in shares of Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock valued at $2,616,000 after buying an additional 3,888,308 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock valued at $65,960,215,000 after buying an additional 3,104,550 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Meta Platforms by 24.7% in the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock valued at $6,733,731,000 after buying an additional 2,748,620 shares in the last quarter. Finally, Sustainable Growth Advisers LP bought a new position in shares of Meta Platforms in the second quarter valued at $595,152,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Meta Platforms

In other news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the sale, the chief executive officer now owns 124,387 shares in the company, valued at $62,254,449.63. The disclosure for this sale can be found here. Over the last three months, insiders have sold 349,472 shares of company stock worth $182,544,600. Insiders own 13.71% of the company’s stock.

Analyst Ratings Changes

META has been the subject of several analyst reports. Guggenheim raised their target price on shares of Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Roth Mkm lifted their price objective on shares of Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $570.00 price objective on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, Wolfe Research started coverage on shares of Meta Platforms in a research report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price objective for the company. Two 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $578.92.

Meta Platforms Stock Down 0.2 %

Shares of NASDAQ META opened at $563.33 on Wednesday. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 32.36, a PEG 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 $573.98. The stock has a 50-day moving average price of $510.42 and a two-hundred day moving average price of $498.05.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm 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 business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.23 earnings per share. As a group, 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 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. 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 dividend payout ratio (DPR) is currently 11.49%.

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.