1900 Wealth Management LLC Buys 33 Shares of Meta Platforms, Inc. (NASDAQ:META)

1900 Wealth Management LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META) by 2.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,645 shares of the social networking company’s stock after purchasing an additional 33 shares during the period. 1900 Wealth Management LLC’s holdings in Meta Platforms were worth $829,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of META. Vantage Financial Partners LLC boosted its holdings in 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 buying an additional 41 shares during the period. Adell Harriman & Carpenter Inc. lifted its stake in Meta Platforms by 4.5% in the 4th quarter. Adell Harriman & Carpenter Inc. now owns 3,830 shares of the social networking company’s stock worth $1,356,000 after purchasing an additional 166 shares in the last quarter. Van ECK Associates Corp lifted its stake in Meta Platforms by 5.1% in the 4th quarter. Van ECK Associates Corp now owns 319,509 shares of the social networking company’s stock worth $113,093,000 after purchasing an additional 15,491 shares in the last quarter. Duff & Phelps Investment Management Co. lifted its stake in Meta Platforms by 0.9% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 24,774 shares of the social networking company’s stock worth $8,769,000 after purchasing an additional 209 shares in the last quarter. Finally, Cozad Asset Management Inc. lifted its stake in Meta Platforms by 1.3% in the 4th quarter. Cozad Asset Management Inc. now owns 7,728 shares of the social networking company’s stock worth $2,735,000 after purchasing an additional 101 shares in the last quarter. 79.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on META shares. BMO Capital Markets restated a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research report on Wednesday, June 12th. Sanford C. Bernstein raised their price objective on shares of Meta Platforms from $565.00 to $575.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. TD Securities raised their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. UBS Group raised their price objective on shares of Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Raymond James lifted their target price on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three 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 an average target price of $574.41.

Meta Platforms Price Performance

Shares of NASDAQ:META traded down $2.32 on Wednesday, reaching $516.78. 9,075,556 shares of the company traded hands, compared to its average volume of 16,078,506. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The company’s 50 day moving average is $503.64 and its 200-day moving average is $492.02. The stock has a market capitalization of $1.31 trillion, a PE ratio of 29.81, a P/E/G ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68.

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

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Insiders Place Their Bets

In related news, COO Javier Olivan sold 413 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total value of $221,747.96. Following the sale, the chief operating officer now directly owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total transaction of $483,224.75. Following the completion of the transaction, the insider now owns 36,940 shares of the company’s stock, valued at $19,724,113. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Javier Olivan sold 413 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $536.92, for a total transaction of $221,747.96. Following the transaction, the chief operating officer now directly owns 14,424 shares of the company’s stock, valued at approximately $7,744,534.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 329,890 shares of company stock valued at $170,604,385. Company insiders own 13.71% of the company’s stock.

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.