Daymark Wealth Partners LLC Has $5.93 Million Holdings in Meta Platforms, Inc. (NASDAQ:META)

Daymark Wealth Partners LLC increased its holdings in Meta Platforms, Inc. (NASDAQ:META) by 12.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,750 shares of the social networking company’s stock after buying an additional 1,347 shares during the period. Daymark Wealth Partners LLC’s holdings in Meta Platforms were worth $5,925,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Delos Wealth Advisors LLC grew its stake in 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 in the last quarter. POM Investment Strategies LLC bought a new stake in shares of Meta Platforms during the 2nd quarter worth approximately $38,000. Ruedi Wealth Management Inc. boosted its position in shares of Meta Platforms by 122.2% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Richardson Financial Services Inc. increased its stake in Meta Platforms by 95.6% in the first quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after acquiring an additional 43 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Meta Platforms during the fourth quarter valued at approximately $32,000. 79.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Barclays raised their target price on Meta Platforms from $520.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Rosenblatt Securities boosted their target price on Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a research note on Thursday. Raymond James increased their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday, July 1st. Roth Mkm lifted their price target on shares of Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Wedbush reissued an “outperform” rating and issued a $600.00 price objective on shares of Meta Platforms in a research note on Thursday. Two equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $591.23.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $567.84 on Friday. The firm has a market capitalization of $1.44 trillion, a P/E ratio of 32.62, a P/E/G ratio of 1.39 and a beta of 1.21. The firm’s 50-day moving average price is $514.38 and its 200-day moving average price is $499.02. 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 1-year low of $279.40 and a 1-year high of $577.40.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The company had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. During the same period last year, the business earned $3.23 EPS. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. Equities research analysts anticipate that Meta Platforms, Inc. will post 21.36 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were paid a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.35%. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 901 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total value of $406,486.15. Following the transaction, the insider now directly owns 33,324 shares of the company’s stock, valued at approximately $15,034,122.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Susan J. Li sold 33,018 shares of Meta Platforms stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $517.94, for a total value of $17,101,342.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Newstead sold 901 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $451.15, for a total transaction of $406,486.15. Following the sale, the insider now directly owns 33,324 shares in the company, valued at $15,034,122.60. The disclosure for this sale can be found here. Insiders have sold 342,358 shares of company stock worth $179,431,101 in the last 90 days. Insiders own 13.71% of the company’s stock.

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.