Meta Platforms, Inc. (NASDAQ:META) Holdings Raised by Menard Financial Group LLC

Menard Financial Group LLC increased its position in Meta Platforms, Inc. (NASDAQ:META) by 15.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,756 shares of the social networking company’s stock after acquiring an additional 1,189 shares during the period. Meta Platforms makes up about 3.1% of Menard Financial Group LLC’s investment portfolio, making the stock its 5th biggest position. Menard Financial Group LLC’s holdings in Meta Platforms were worth $4,415,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. American Planning Services Inc. grew its stake in Meta Platforms by 455.5% in the 2nd quarter. American Planning Services Inc. now owns 6,066 shares of the social networking company’s stock valued at $3,059,000 after acquiring an additional 4,974 shares during the last quarter. Sierra Summit Advisors LLC raised its position in Meta Platforms by 1.5% during the second quarter. Sierra Summit Advisors LLC now owns 22,483 shares of the social networking company’s stock worth $11,336,000 after acquiring an additional 327 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Meta Platforms by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 7,754,450 shares of the social networking company’s stock valued at $3,911,029,000 after purchasing an additional 208,677 shares in the last quarter. Wealth Dimensions Group Ltd. grew its position in shares of Meta Platforms by 26.3% in the second quarter. Wealth Dimensions Group Ltd. now owns 1,468 shares of the social networking company’s stock valued at $740,000 after purchasing an additional 306 shares during the last quarter. Finally, Waycross Partners LLC increased its stake in shares of Meta Platforms by 8.5% during the 2nd quarter. Waycross Partners LLC now owns 64,066 shares of the social networking company’s stock worth $32,303,000 after purchasing an additional 5,012 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Meta Platforms from $480.00 to $610.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. KeyCorp increased their price objective on Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Oppenheimer boosted their target price on shares of Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Citigroup raised their price target on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, TD Cowen boosted their price objective on shares of Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Two analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $577.26.

Meta Platforms Trading Up 0.3 %

NASDAQ META opened at $537.95 on Thursday. The stock has a market cap of $1.36 trillion, a P/E ratio of 30.90, a PEG ratio of 1.26 and a beta of 1.21. The company’s fifty day simple moving average is $505.40 and its 200-day simple moving average is $496.34. The company has a current ratio of 2.83, a quick ratio of 2.83 and a debt-to-equity ratio of 0.12. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $544.23.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm 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 revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.23 EPS. Equities research analysts predict that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.37%. Meta Platforms’s dividend payout ratio (DPR) is presently 11.49%.

Insiders Place Their Bets

In other news, CFO Susan J. Li sold 33,018 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Susan J. Li sold 33,018 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $517.94, for a total transaction of $17,101,342.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark Zuckerberg sold 2,054 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $501.05, for a total value of $1,029,156.70. Following the completion of the sale, the chief executive officer now directly owns 253,000 shares of the company’s stock, valued at $126,765,650. The disclosure for this sale can be found here. Insiders have sold 357,575 shares of company stock worth $185,595,945 in the last three months. 13.71% of the stock is owned by insiders.

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.