Prime Capital Investment Advisors LLC Purchases 3,095 Shares of Meta Platforms, Inc. (NASDAQ:META)

Prime Capital Investment Advisors LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 5.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 65,579 shares of the social networking company’s stock after purchasing an additional 3,095 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Meta Platforms were worth $33,066,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Meta Platforms by 0.4% during the first quarter. Vanguard Group Inc. now owns 187,180,393 shares of the social networking company’s stock valued at $90,891,055,000 after buying an additional 831,047 shares during the period. Capital World Investors grew its position in shares of Meta Platforms by 0.6% during the 1st quarter. Capital World Investors now owns 38,299,316 shares of the social networking company’s stock valued at $18,597,382,000 after acquiring an additional 244,803 shares during the period. Capital International Investors increased its stake in shares of Meta Platforms by 3.2% during the 4th quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after purchasing an additional 1,083,719 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Meta Platforms by 14.5% in the 1st quarter. Capital Research Global Investors now owns 34,597,001 shares of the social networking company’s stock worth $16,799,612,000 after purchasing an additional 4,379,826 shares during the period. Finally, Sanders Capital LLC lifted its stake in Meta Platforms by 2.4% in the fourth quarter. Sanders Capital LLC now owns 14,569,705 shares of the social networking company’s stock valued at $5,157,093,000 after purchasing an additional 344,384 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total value of $449,775.95. Following the sale, the insider now directly owns 38,750 shares of the company’s stock, valued at $19,258,362.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Susan J. Li sold 8,950 shares of the company’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 owns 74,579 shares in the company, valued at $39,285,234.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction 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 completion of the sale, the insider now owns 38,750 shares in the company, valued at approximately $19,258,362.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 357,987 shares of company stock worth $185,802,769. 13.71% of the stock is currently owned by company insiders.

Meta Platforms Stock Up 0.6 %

Shares of NASDAQ META opened at $536.32 on Wednesday. The stock has a market capitalization of $1.36 trillion, a P/E ratio of 30.80, a PEG ratio of 1.26 and a beta of 1.21. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $544.23. The firm’s 50 day simple moving average is $505.34 and its two-hundred day simple moving average is $496.05. 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 released its earnings results 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 company had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.23 EPS. As a group, analysts expect that Meta Platforms, Inc. will post 21.36 EPS 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. Shareholders of record on Monday, September 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Analyst Ratings Changes

META has been the subject of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research report on Thursday, August 1st. Bank of America boosted their price objective on Meta Platforms from $550.00 to $563.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Susquehanna lifted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company lifted their price objective on shares of Meta Platforms from $625.00 to $647.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Two research 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $577.26.

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.