Meta Platforms, Inc. (NASDAQ:META) Shares Bought by Nemes Rush Group LLC

Nemes Rush Group LLC grew its position in Meta Platforms, Inc. (NASDAQ:META) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,161 shares of the social networking company’s stock after buying an additional 170 shares during the quarter. Meta Platforms accounts for approximately 1.9% of Nemes Rush Group LLC’s holdings, making the stock its 16th biggest holding. Nemes Rush Group LLC’s holdings in Meta Platforms were worth $14,199,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vantage Financial Partners LLC raised its position in Meta Platforms by 3.2% during the fourth quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after acquiring an additional 41 shares during the last quarter. Concentrum Wealth Management increased its stake in shares of Meta Platforms by 111.0% during the 4th quarter. Concentrum Wealth Management now owns 7,391,877 shares of the social networking company’s stock worth $2,616,000 after purchasing an additional 3,888,308 shares in the last quarter. Aveo Capital Partners LLC lifted its stake in Meta Platforms by 45.7% in the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock valued at $815,000 after buying an additional 722 shares in the last quarter. 9258 Wealth Management LLC lifted its stake in Meta Platforms by 66.4% in the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock valued at $1,413,000 after buying an additional 1,594 shares in the last quarter. Finally, Rollins Financial grew its holdings in Meta Platforms by 7.5% during the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock valued at $10,851,000 after buying an additional 2,133 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the subject of a number of analyst reports. Loop Capital boosted their price target on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Bank of America upped their target price on shares of Meta Platforms from $563.00 to $630.00 and gave the company a “buy” rating in a report on Thursday. Rosenblatt Securities lifted their price target on shares of Meta Platforms from $643.00 to $811.00 and gave the stock a “buy” rating in a report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $660.00 price objective on shares of Meta Platforms in a research note on Monday, September 23rd. Finally, Needham & Company LLC restated an “underperform” rating on shares of Meta Platforms in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $591.23.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $509.10, for a total transaction of $8,502,988.20. Following the sale, the chief executive officer now directly owns 186,826 shares of the company’s stock, valued at $95,113,116.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Christopher K. Cox sold 10,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $569.93, for a total transaction of $5,699,300.00. Following the completion of the transaction, the insider now directly owns 328,662 shares in the company, valued at approximately $187,314,333.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark Zuckerberg sold 16,702 shares of Meta Platforms stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $509.10, for a total transaction of $8,502,988.20. Following the completion of the sale, the chief executive officer now owns 186,826 shares of the company’s stock, valued at approximately $95,113,116.60. 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 quarter. 13.71% of the stock is owned by corporate insiders.

Meta Platforms Price Performance

Shares of NASDAQ META opened at $567.36 on Friday. 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 $577.40. The company has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 32.59, a PEG ratio of 1.39 and a beta of 1.21. The business has a 50-day moving average of $516.19 and a 200-day moving average of $499.60.

Meta Platforms (NASDAQ:META) last released its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The firm had revenue of $39.07 billion during the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.23 EPS. On average, equities analysts anticipate 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 was paid on Thursday, September 26th. Investors of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.35%. The ex-dividend date of this dividend was Monday, September 16th. Meta Platforms’s dividend payout ratio (DPR) is 11.49%.

About Meta Platforms

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.