Semmax Financial Advisors Inc. Boosts Stock Position in Meta Platforms, Inc. (NASDAQ:META)

Semmax Financial Advisors Inc. boosted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 15.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,206 shares of the social networking company’s stock after purchasing an additional 1,346 shares during the period. Meta Platforms makes up approximately 1.6% of Semmax Financial Advisors Inc.’s portfolio, making the stock its 13th biggest holding. Semmax Financial Advisors Inc.’s holdings in Meta Platforms were worth $5,394,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of META. Quest Partners LLC purchased a new stake in shares of Meta Platforms in the fourth quarter valued at approximately $32,000. Clear Investment Research LLC lifted its holdings in shares of Meta Platforms by 411.1% in the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after acquiring an additional 74 shares during the last quarter. Delos Wealth Advisors LLC boosted its position in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after buying an additional 58 shares during the period. POM Investment Strategies LLC acquired a new position in Meta Platforms in the 2nd quarter valued at about $38,000. Finally, Ruedi Wealth Management Inc. boosted its position in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $560.00, for a total value of $231,280.00. Following the transaction, the chief operating officer now directly owns 12,772 shares of the company’s stock, valued at approximately $7,152,320. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Meta Platforms news, COO Javier Olivan sold 413 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $560.00, for a total value of $231,280.00. Following the sale, the chief operating officer now owns 12,772 shares in the company, valued at approximately $7,152,320. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $514.96, for a total value of $8,600,861.92. Following the completion of the transaction, the chief executive officer now directly owns 213,007 shares of the company’s stock, valued at approximately $109,690,084.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 349,472 shares of company stock valued at $182,544,600. 13.71% of the stock is currently owned by insiders.

Meta Platforms Stock Performance

NASDAQ:META opened at $563.33 on Wednesday. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 32.36, a PEG ratio of 1.26 and a beta of 1.21. The stock’s 50 day simple moving average is $510.42 and its two-hundred day simple moving average is $498.05. 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, Inc. has a 1 year low of $279.40 and a 1 year high of $573.98.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.46. The business had revenue of $39.07 billion during 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%. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.23 earnings per share. As a group, equities analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Loop Capital upped their price objective on Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Raymond James boosted their target price on Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $570.00 target price on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, Truist Financial raised their target price on shares of Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $578.92.

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.