Monetary Management Group Inc. Raises Position in Meta Platforms, Inc. (NASDAQ:META)

Monetary Management Group Inc. lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 9.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,760 shares of the social networking company’s stock after acquiring an additional 1,405 shares during the period. Meta Platforms makes up about 2.1% of Monetary Management Group Inc.’s holdings, making the stock its 9th largest holding. Monetary Management Group Inc.’s holdings in Meta Platforms were worth $7,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Delos Wealth Advisors LLC increased its holdings in shares of Meta Platforms by 527.3% in the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares during the period. Richardson Financial Services Inc. raised its holdings in shares of Meta Platforms by 95.6% in the 1st 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 in the last quarter. Quest Partners LLC bought a new stake in shares of Meta Platforms during the 4th quarter valued at about $32,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Meta Platforms during the first quarter worth about $44,000. Finally, Clear Investment Research LLC increased its position in shares of Meta Platforms by 411.1% in the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on META. Benchmark reaffirmed a “hold” rating on shares of Meta Platforms in a report on Thursday, July 25th. BNP Paribas started coverage on Meta Platforms in a research report on Thursday, May 2nd. They set an “underperform” rating and a $360.00 price objective on the stock. JPMorgan Chase & Co. boosted their target price on Meta Platforms from $480.00 to $610.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Loop Capital increased their price target on shares of Meta Platforms from $550.00 to $575.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Finally, Truist Financial boosted their price objective on shares of Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $572.51.

Meta Platforms Stock Down 0.3 %

META stock traded down $1.50 during trading on Wednesday, hitting $527.04. 8,997,515 shares of the stock traded hands, compared to its average volume of 16,379,042. The firm’s 50 day moving average is $498.29 and its two-hundred day moving average is $485.68. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its quarterly earnings data 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 for 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%. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.23 EPS. On average, sell-side analysts anticipate 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 issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 annualized dividend and a yield of 0.38%. Meta Platforms’s payout ratio is 11.49%.

Insider Buying and Selling at Meta Platforms

In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total value of $483,224.75. Following the sale, the insider now owns 36,940 shares in the company, valued at $19,724,113. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $533.95, for a total value of $483,224.75. Following the transaction, the insider now directly owns 36,940 shares of the company’s stock, valued at $19,724,113. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 412 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total transaction of $194,752.40. Following the completion of the transaction, the chief operating officer now owns 15,376 shares in the company, valued at approximately $7,268,235.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 315,770 shares of company stock worth $157,719,910. Company insiders own 13.71% of the company’s stock.

Meta Platforms 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.