418 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by Long Island Wealth Management Inc.

Long Island Wealth Management Inc. bought a new stake in shares of Meta Platforms, Inc. (NASDAQ:META) in the 2nd quarter, Holdings Channel.com reports. The fund bought 418 shares of the social networking company’s stock, valued at approximately $211,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Capital Research Global Investors lifted its holdings in Meta Platforms by 17.2% in the 4th 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 purchasing an additional 4,440,229 shares in the last quarter. Concentrum Wealth Management lifted its stake in shares of Meta Platforms by 111.0% during 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 during the period. Vanguard Group Inc. lifted its stake in shares of Meta Platforms by 1.7% during 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 during the period. Jennison Associates LLC boosted its position in Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after acquiring an additional 2,748,620 shares during the last quarter. Finally, Sustainable Growth Advisers LP purchased a new stake in Meta Platforms in the 2nd quarter worth approximately $595,152,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 150 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the sale, the chief executive officer now directly owns 124,387 shares in the company, valued at approximately $62,254,449.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Mark Zuckerberg sold 150 shares of Meta Platforms stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $500.49, for a total value of $75,073.50. Following the completion of the transaction, the chief executive officer now directly owns 124,387 shares of the company’s stock, valued at approximately $62,254,449.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $500.57, for a total transaction of $453,015.85. Following the sale, the insider now owns 37,845 shares in the company, valued at approximately $18,944,071.65. The disclosure for this sale can be found here. Insiders have sold 342,358 shares of company stock worth $179,431,101 over the last quarter. 13.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on META. Tigress Financial increased their price target on Meta Platforms from $575.00 to $645.00 and gave the stock a “strong-buy” rating in a research note on Friday, August 16th. Robert W. Baird increased their target price on Meta Platforms from $530.00 to $605.00 and gave the stock an “outperform” rating in a research report on Thursday. Piper Sandler lifted their price target on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Bank of America increased their price objective on shares of Meta Platforms from $563.00 to $630.00 and gave the stock a “buy” rating in a report on Thursday. Finally, BMO Capital Markets restated a “market perform” rating and issued a $450.00 target price on shares of Meta Platforms in a report on Wednesday, June 12th. Two 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 issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $591.23.

Meta Platforms Stock Performance

Meta Platforms stock opened at $567.36 on Friday. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $577.40. 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 stock has a market cap of $1.44 trillion, a P/E ratio of 32.59, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21. The stock has a 50 day moving average of $516.19 and a 200-day moving average of $499.60.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS 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 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 firm’s revenue was up 22.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.23 EPS. 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 was paid on Thursday, September 26th. Investors of record on Monday, September 16th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio is currently 11.49%.

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.