tru Independence LLC Has $1.27 Million Position in Meta Platforms, Inc. (NASDAQ:META)

tru Independence LLC cut its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 5.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,511 shares of the social networking company’s stock after selling 154 shares during the quarter. tru Independence LLC’s holdings in Meta Platforms were worth $1,266,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of Meta Platforms during the fourth quarter valued at approximately $32,000. Clear Investment Research LLC boosted its stake in 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 buying an additional 74 shares in the last quarter. Delos Wealth Advisors LLC increased its holdings in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the 2nd quarter valued at $38,000. Finally, Ruedi Wealth Management Inc. lifted its holdings in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Transactions at Meta Platforms

In related news, CFO Susan J. Li sold 8,950 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at approximately $39,285,234.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares in the company, valued at $39,285,234.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $522.00, for a total transaction of $215,586.00. Following the sale, the chief operating officer now owns 13,598 shares in the company, valued at $7,098,156. The disclosure for this sale can be found here. Insiders have sold a total of 373,371 shares of company stock valued at $193,535,153 over the last 90 days. 13.71% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on META shares. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. UBS Group raised their target price on Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Tigress Financial boosted their price target on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Bank of America increased their price objective on Meta Platforms from $550.00 to $563.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, KeyCorp boosted 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Meta Platforms currently has an average rating of “Moderate Buy” and a consensus target price of $577.26.

Meta Platforms Stock Performance

Shares of NASDAQ:META opened at $511.83 on Thursday. The firm’s 50 day simple moving average is $505.12 and its 200 day simple moving average is $494.86. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The company has a market capitalization of $1.29 trillion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 1.23 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.83.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the firm posted $3.23 earnings per share. The business’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 0.39%. Meta Platforms’s dividend payout ratio (DPR) is currently 11.49%.

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.