Private Advisor Group LLC Has $61.80 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Private Advisor Group LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 12.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,569 shares of the social networking company’s stock after buying an additional 13,557 shares during the period. Private Advisor Group LLC’s holdings in Meta Platforms were worth $61,802,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Northwest Wealth Management LLC raised its stake in shares of Meta Platforms by 1.8% in the second quarter. Northwest Wealth Management LLC now owns 1,270 shares of the social networking company’s stock worth $640,000 after purchasing an additional 22 shares during the last quarter. Addison Advisors LLC grew its position in shares of Meta Platforms by 18.4% during the 2nd quarter. Addison Advisors LLC now owns 835 shares of the social networking company’s stock valued at $421,000 after acquiring an additional 130 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Meta Platforms by 1.7% in the second quarter. Parkside Financial Bank & Trust now owns 5,712 shares of the social networking company’s stock valued at $2,880,000 after buying an additional 96 shares during the period. Arcadia Investment Management Corp MI increased its stake in shares of Meta Platforms by 287.3% in the second quarter. Arcadia Investment Management Corp MI now owns 883 shares of the social networking company’s stock worth $445,000 after purchasing an additional 655 shares in the last quarter. Finally, Artemis Wealth Advisors LLC grew its stake in Meta Platforms by 21.5% in the 2nd quarter. Artemis Wealth Advisors LLC now owns 7,900 shares of the social networking company’s stock valued at $3,983,000 after buying an additional 1,400 shares in the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Stock Performance

Shares of META opened at $504.79 on Tuesday. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $544.23. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 28.99, a PEG ratio of 1.23 and a beta of 1.21. The business has a 50-day simple moving average of $505.18 and a two-hundred day simple moving average of $494.59.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, beating the consensus estimate 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 company’s revenue was up 22.1% on a year-over-year basis. During the same period last year, the firm earned $3.23 EPS. On average, analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be given 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 0.40%. Meta Platforms’s payout ratio is 11.49%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Roth Mkm upped their price target on Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler raised their price objective on Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. BMO Capital Markets restated a “market perform” rating and set a $450.00 price target on shares of Meta Platforms in a research report on Wednesday, June 12th. Bank of America raised their target price on shares of Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Morgan Stanley boosted their price target on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $576.66.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total transaction of $449,775.95. Following the sale, the insider now owns 38,750 shares of the company’s stock, valued at approximately $19,258,362.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total transaction of $449,775.95. Following the sale, the insider now owns 38,750 shares in the company, valued at $19,258,362.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Susan J. Li sold 33,018 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total transaction of $17,101,342.92. The disclosure for this sale can be found here. Insiders sold a total of 373,370 shares of company stock valued at $193,527,936 over the last 90 days. Company insiders own 13.71% of the company’s stock.

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.