Meta Platforms, Inc. (NASDAQ:META) Stake Lessened by Invesco LLC

Invesco LLC decreased its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,322 shares of the social networking company’s stock after selling 172 shares during the period. Invesco LLC’s holdings in Meta Platforms were worth $1,675,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vantage Financial Partners LLC grew its stake in shares of Meta Platforms by 3.2% in the 4th quarter. Vantage Financial Partners LLC now owns 1,323 shares of the social networking company’s stock worth $468,000 after purchasing an additional 41 shares during the last quarter. Concentrum Wealth Management increased its holdings 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 valued at $2,616,000 after buying an additional 3,888,308 shares in the last quarter. Aveo Capital Partners LLC lifted its position in shares of Meta Platforms by 45.7% during the 4th quarter. Aveo Capital Partners LLC now owns 2,302 shares of the social networking company’s stock valued at $815,000 after acquiring an additional 722 shares during the last quarter. 9258 Wealth Management LLC boosted its stake in shares of Meta Platforms by 66.4% during the 4th quarter. 9258 Wealth Management LLC now owns 3,993 shares of the social networking company’s stock worth $1,413,000 after acquiring an additional 1,594 shares in the last quarter. Finally, Rollins Financial grew its holdings in shares of Meta Platforms by 7.5% in the 4th quarter. Rollins Financial now owns 30,657 shares of the social networking company’s stock worth $10,851,000 after acquiring an additional 2,133 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Trading Down 0.2 %

Meta Platforms stock opened at $524.62 on Friday. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $544.23. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a market capitalization of $1.33 trillion, a PE ratio of 30.13, a PEG ratio of 1.26 and a beta of 1.21. The business’s 50-day simple moving average is $505.13 and its 200-day simple moving average is $495.37.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. The company 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 quarterly revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the company earned $3.23 earnings per share. Equities research analysts forecast that Meta Platforms, Inc. will post 21.36 earnings per share for the current year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, September 16th will be given a $0.50 dividend. The ex-dividend date is Monday, September 16th. This represents a $2.00 annualized dividend and a yield of 0.38%. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $496.99, for a total value of $449,775.95. Following the completion of the sale, the insider now owns 38,750 shares in the company, valued at $19,258,362.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $496.99, for a total value of $449,775.95. Following the completion of the sale, the insider now owns 38,750 shares in the company, valued at approximately $19,258,362.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now owns 11,990 shares in the company, valued at $6,315,852.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 357,574 shares of company stock worth $185,587,773. 13.71% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on META. Morgan Stanley increased their price target on Meta Platforms from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Wolfe Research initiated coverage on shares of Meta Platforms in a report on Tuesday, July 16th. They set an “outperform” rating and a $620.00 price target on the stock. Jefferies Financial Group raised their price objective on shares of Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Roth Mkm boosted their target price on shares of Meta Platforms from $510.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald began coverage on Meta Platforms in a research report on Thursday, September 5th. They issued an “overweight” rating and a $660.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $577.26.

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.