RS Crum Inc. Acquires 106 Shares of Meta Platforms, Inc. (NASDAQ:META)

RS Crum Inc. grew its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 11.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,062 shares of the social networking company’s stock after purchasing an additional 106 shares during the quarter. RS Crum Inc.’s holdings in Meta Platforms were worth $536,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Valley Wealth Managers Inc. raised its stake in Meta Platforms by 31.0% in the 2nd quarter. Valley Wealth Managers Inc. now owns 1,047 shares of the social networking company’s stock valued at $528,000 after acquiring an additional 248 shares during the period. Meeder Advisory Services Inc. boosted its holdings in Meta Platforms by 38.0% in the 2nd quarter. Meeder Advisory Services Inc. now owns 38,418 shares of the social networking company’s stock worth $19,371,000 after buying an additional 10,572 shares during the period. Ullmann Wealth Partners Group LLC grew its stake in Meta Platforms by 4.2% in the 2nd quarter. Ullmann Wealth Partners Group LLC now owns 1,918 shares of the social networking company’s stock valued at $967,000 after buying an additional 78 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in Meta Platforms by 6.7% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 153,058 shares of the social networking company’s stock valued at $77,175,000 after acquiring an additional 9,588 shares during the period. Finally, D Orazio & Associates Inc. boosted its holdings in shares of Meta Platforms by 6.0% in the second quarter. D Orazio & Associates Inc. now owns 3,742 shares of the social networking company’s stock worth $1,887,000 after acquiring an additional 213 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Meta Platforms

In related news, CFO Susan J. Li sold 8,950 shares of the business’s 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 transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $502.00, for a total transaction of $206,824.00. Following the sale, the chief operating officer now owns 7,619 shares in the company, valued at $3,824,738. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 357,574 shares of company stock valued at $185,587,773. Company insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $533.28 on Tuesday. The company has a 50 day moving average of $505.21 and a 200 day moving average of $495.81. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a twelve month low of $279.40 and a twelve month high of $544.23. The firm has a market cap of $1.35 trillion, a P/E ratio of 30.63, a PEG ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, beating 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 business had revenue of $39.07 billion during the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the business earned $3.23 EPS. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. As a group, research analysts expect that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analyst Ratings Changes

A number of analysts recently issued reports on META shares. Susquehanna increased their price objective on Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a report on Thursday, August 1st. 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 report on Thursday, August 1st. Wedbush restated an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research report on Wednesday, July 24th. Loop Capital lifted their price target on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company upped their price objective on shares of Meta Platforms from $625.00 to $647.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Meta Platforms currently has an average rating of “Moderate Buy” and an average price target of $577.26.

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.