Hedeker Wealth LLC Has $5.16 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Hedeker Wealth LLC raised its position in Meta Platforms, Inc. (NASDAQ:META) by 49.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,227 shares of the social networking company’s stock after acquiring an additional 3,377 shares during the period. Meta Platforms comprises approximately 1.5% of Hedeker Wealth LLC’s holdings, making the stock its 21st largest holding. Hedeker Wealth LLC’s holdings in Meta Platforms were worth $5,157,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Baird Financial Group Inc. increased its stake in Meta Platforms by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after acquiring an additional 163,067 shares during the period. California State Teachers Retirement System boosted its holdings in Meta Platforms by 1.5% during the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after purchasing an additional 51,900 shares in the last quarter. Donoghue Forlines LLC grew its stake in shares of Meta Platforms by 94.4% in the 4th quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after purchasing an additional 4,054 shares during the period. Voyager Global Management LP raised its holdings in shares of Meta Platforms by 37.3% in the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock worth $182,289,000 after buying an additional 140,000 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. lifted its position in shares of Meta Platforms by 400.0% during the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 2,500 shares of the social networking company’s stock worth $885,000 after buying an additional 2,000 shares during the period. Institutional investors own 79.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on META. Sanford C. Bernstein increased their price objective on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Truist Financial increased 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. Guggenheim boosted their price target on shares of Meta Platforms from $500.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Raymond James raised their price objective 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. Finally, Loop Capital boosted their target price on Meta Platforms from $550.00 to $575.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and a consensus price target of $574.41.

Meta Platforms Trading Down 1.8 %

Shares of NASDAQ META opened at $527.42 on Monday. Meta Platforms, Inc. has a twelve month low of $274.38 and a twelve month high of $542.81. The stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The company’s fifty day moving average is $500.48 and its 200-day moving average is $488.50.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. Meta Platforms had a return on equity of 34.16% and a net margin of 34.34%. The firm had revenue of $39.07 billion for the quarter, compared to analyst estimates of $38.26 billion. During the same period in the previous year, the company posted $3.23 earnings per share. The company’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities research analysts predict that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a $0.50 dividend. The ex-dividend date was Friday, June 14th. This represents a $2.00 annualized dividend and a dividend yield of 0.38%. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Buying and Selling

In other news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $514.89, for a total value of $8,599,692.78. Following the completion of the transaction, the chief executive officer now owns 89,927 shares in the company, valued at $46,302,513.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $514.89, for a total value of $8,599,692.78. Following the sale, the chief executive officer now directly owns 89,927 shares of the company’s stock, valued at approximately $46,302,513.03. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peggy Alford sold 1,052 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $479.00, for a total value of $503,908.00. Following the transaction, the director now owns 6,168 shares of the company’s stock, valued at approximately $2,954,472. The disclosure for this sale can be found here. In the last three months, insiders sold 349,174 shares of company stock valued at $175,146,777. 13.71% of the stock is owned by corporate insiders.

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.