Detalus Advisors LLC Invests $289,000 in Meta Platforms, Inc. (NASDAQ:META)

Detalus Advisors LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 574 shares of the social networking company’s stock, valued at approximately $289,000.

Several other large investors have also modified their holdings of META. Vantage Financial Partners LLC grew its holdings 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 period. Adell Harriman & Carpenter Inc. grew its holdings in Meta Platforms by 4.5% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 3,830 shares of the social networking company’s stock worth $1,356,000 after acquiring an additional 166 shares during the period. Van ECK Associates Corp grew its holdings in Meta Platforms by 5.1% during the fourth quarter. Van ECK Associates Corp now owns 319,509 shares of the social networking company’s stock worth $113,093,000 after acquiring an additional 15,491 shares during the period. Duff & Phelps Investment Management Co. grew its holdings in Meta Platforms by 0.9% during the fourth quarter. Duff & Phelps Investment Management Co. now owns 24,774 shares of the social networking company’s stock worth $8,769,000 after acquiring an additional 209 shares during the period. Finally, Cozad Asset Management Inc. grew its holdings in Meta Platforms by 1.3% during the fourth quarter. Cozad Asset Management Inc. now owns 7,728 shares of the social networking company’s stock worth $2,735,000 after acquiring an additional 101 shares during the period. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Down 0.4 %

Shares of META traded down $2.32 during midday trading on Wednesday, reaching $516.78. 9,075,556 shares of the company were exchanged, compared to its average volume of 16,078,506. The stock has a 50-day moving average price of $503.64 and a 200-day moving average price of $492.02. The company has a market cap of $1.31 trillion, a price-to-earnings ratio of 29.81, a P/E/G ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a 1-year low of $279.40 and a 1-year high of $544.23. The company has a current ratio of 2.83, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data 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 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 quarter in the previous year, the firm posted $3.23 earnings per share. Research analysts expect that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Meta Platforms Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have weighed in on META shares. Stifel Nicolaus upped their target price on Meta Platforms from $550.00 to $590.00 and gave the company a “buy” rating in a report on Thursday, August 1st. TD Cowen raised their price target on Meta Platforms from $530.00 to $600.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Jefferies Financial Group raised their price target on Meta Platforms from $565.00 to $600.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and issued a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, Oppenheimer raised their price target on Meta Platforms from $525.00 to $615.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $574.41.

Insider Buying and Selling

In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $531.46, for a total value of $8,876,444.92. Following the transaction, the chief executive officer now owns 11,384 shares in the company, valued at $6,050,140.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Mark Zuckerberg sold 16,702 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $531.46, for a total value of $8,876,444.92. Following the transaction, the chief executive officer now owns 11,384 shares in the company, valued at $6,050,140.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $471.67, for a total value of $194,328.04. Following the completion of the transaction, the chief operating officer now owns 14,964 shares in the company, valued at approximately $7,058,069.88. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 329,890 shares of company stock worth $170,604,385. 13.71% of the stock is currently owned by corporate insiders.

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.