Catalyst Private Wealth LLC Buys 1,012 Shares of Meta Platforms, Inc. (NASDAQ:META)

Catalyst Private Wealth LLC boosted its position in Meta Platforms, Inc. (NASDAQ:META) by 14.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,932 shares of the social networking company’s stock after buying an additional 1,012 shares during the quarter. Meta Platforms makes up about 2.1% of Catalyst Private Wealth LLC’s portfolio, making the stock its 12th biggest position. Catalyst Private Wealth LLC’s holdings in Meta Platforms were worth $3,999,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Arcus Capital Partners LLC lifted its position in shares of Meta Platforms by 1.8% in the second quarter. Arcus Capital Partners LLC now owns 2,708 shares of the social networking company’s stock worth $1,365,000 after purchasing an additional 48 shares in the last quarter. DT Investment Partners LLC increased its stake in Meta Platforms by 21.7% in the 2nd quarter. DT Investment Partners LLC now owns 2,305 shares of the social networking company’s stock valued at $1,162,000 after buying an additional 411 shares during the last quarter. &PARTNERS lifted its position in Meta Platforms by 250.1% during the 2nd quarter. &PARTNERS now owns 26,111 shares of the social networking company’s stock worth $13,171,000 after buying an additional 18,652 shares in the last quarter. MN Wealth Advisors LLC boosted its stake in shares of Meta Platforms by 4.8% during the 2nd quarter. MN Wealth Advisors LLC now owns 1,666 shares of the social networking company’s stock worth $840,000 after buying an additional 76 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Meta Platforms by 10.9% in the 2nd quarter. Geneos Wealth Management Inc. now owns 15,282 shares of the social networking company’s stock valued at $7,706,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $533.24, for a total value of $8,906,174.48. Following the completion of the sale, the chief executive officer now owns 28,838 shares of the company’s stock, valued at $15,377,575.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $533.24, for a total value of $8,906,174.48. Following the transaction, the chief executive officer now directly owns 28,838 shares of the company’s stock, valued at $15,377,575.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $476.69, for a total transaction of $431,404.45. Following the completion of the sale, the insider now owns 42,370 shares in the company, valued at approximately $20,197,355.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 418,680 shares of company stock valued at $211,992,147. 13.71% of the stock is owned by company insiders.

Meta Platforms Price Performance

Meta Platforms stock opened at $528.00 on Friday. The stock’s 50 day moving average is $502.48 and its 200 day moving average is $490.42. 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, Inc. has a one year low of $276.03 and a one year high of $544.23. The firm has a market cap of $1.34 trillion, a P/E ratio of 30.33, a P/E/G ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last released its earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. The company 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%. Meta Platforms’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.23 EPS. As a group, research analysts expect that Meta Platforms, Inc. will post 20.5 EPS for the current year.

Meta Platforms Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on META shares. Roth Mkm upped their target price on Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Jefferies Financial Group upped their price target on shares of Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. UBS Group boosted their price objective on shares of Meta Platforms from $630.00 to $635.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. BNP Paribas initiated coverage on shares of Meta Platforms in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $360.00 target price for the company. Finally, Truist Financial upped their price objective on Meta Platforms from $535.00 to $570.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $574.41.

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.