DecisionPoint Financial LLC Boosts Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

DecisionPoint Financial LLC increased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 10.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 943 shares of the social networking company’s stock after buying an additional 91 shares during the period. DecisionPoint Financial LLC’s holdings in Meta Platforms were worth $448,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Capital Research Global Investors raised its position in shares of Meta Platforms by 17.2% during the 4th quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock worth $10,695,722,000 after purchasing an additional 4,440,229 shares during the last quarter. Concentrum Wealth Management boosted its stake in shares of Meta Platforms by 111.0% in the fourth quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after acquiring an additional 3,888,308 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after acquiring an additional 3,104,550 shares during the last quarter. Jennison Associates LLC increased its position in shares of Meta Platforms by 24.7% during the first quarter. Jennison Associates LLC now owns 13,867,398 shares of the social networking company’s stock worth $6,733,731,000 after purchasing an additional 2,748,620 shares in the last quarter. Finally, Sustainable Growth Advisers LP acquired a new position in Meta Platforms in the 2nd quarter valued at $595,152,000. Institutional investors and hedge funds own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock opened at $559.10 on Friday. The business has a 50-day simple moving average of $505.40 and a 200-day simple moving average of $496.34. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. Meta Platforms, Inc. has a one year low of $279.40 and a one year high of $562.07. The company has a market cap of $1.42 trillion, a PE ratio of 32.11, a P/E/G ratio of 1.26 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last posted 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 firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.23 earnings per share. On average, equities research analysts forecast that Meta Platforms, Inc. will post 21.36 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors 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 yield of 0.36%. The ex-dividend date of this dividend is Monday, September 16th. Meta Platforms’s payout ratio is 11.49%.

Wall Street Analyst Weigh In

META has been the subject of a number of research reports. Wolfe Research started coverage on shares of Meta Platforms in a report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 target price for the company. Tigress Financial upped their price objective on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a research note on Friday, August 16th. Raymond James raised their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research note on Monday, July 1st. KeyCorp upped their price target on Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Sanford C. Bernstein lifted their price objective on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. 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 assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $577.26.

Insider Buying and Selling at Meta Platforms

In other news, CEO Mark Zuckerberg sold 9,760 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $502.87, for a total transaction of $4,908,011.20. Following the completion of the sale, the chief executive officer now owns 247,915 shares in the company, valued at approximately $124,669,016.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $451.15, for a total value of $406,486.15. Following the completion of the sale, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Mark Zuckerberg sold 9,760 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $502.87, for a total value of $4,908,011.20. Following the transaction, the chief executive officer now owns 247,915 shares in the company, valued at approximately $124,669,016.05. The disclosure for this sale can be found here. Insiders have sold 356,426 shares of company stock worth $185,053,425 over the last three months. Insiders own 13.71% of the company’s stock.

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.