MinichMacGregor Wealth Management LLC Buys 40 Shares of Meta Platforms, Inc. (NASDAQ:META)

MinichMacGregor Wealth Management LLC increased its stake in Meta Platforms, Inc. (NASDAQ:META) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 775 shares of the social networking company’s stock after acquiring an additional 40 shares during the quarter. MinichMacGregor Wealth Management LLC’s holdings in Meta Platforms were worth $391,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. White Pine Capital LLC grew its stake in Meta Platforms by 44.9% in the 4th quarter. White Pine Capital LLC now owns 1,413 shares of the social networking company’s stock valued at $500,000 after buying an additional 438 shares in the last quarter. Intact Investment Management Inc. lifted its holdings in Meta Platforms by 2.2% in the fourth quarter. Intact Investment Management Inc. now owns 6,850 shares of the social networking company’s stock worth $2,425,000 after buying an additional 150 shares during the period. Pursue Wealth Partners LLC grew its position in shares of Meta Platforms by 69.8% in the 4th quarter. Pursue Wealth Partners LLC now owns 5,447 shares of the social networking company’s stock worth $1,928,000 after buying an additional 2,240 shares during the period. Principle Wealth Partners LLC raised its stake in Meta Platforms by 0.7% during the fourth quarter. Principle Wealth Partners LLC now owns 9,104 shares of the social networking company’s stock valued at $3,222,000 after buying an additional 59 shares during the last quarter. Finally, Omnia Family Wealth LLC grew its holdings in shares of Meta Platforms by 18.8% during the fourth quarter. Omnia Family Wealth LLC now owns 2,807 shares of the social networking company’s stock valued at $994,000 after buying an additional 445 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Meta Platforms Price Performance

NASDAQ META traded down $7.54 during trading hours on Monday, reaching $520.46. The company’s stock had a trading volume of 4,752,771 shares, compared to its average volume of 16,151,015. The stock has a market cap of $1.32 trillion, a PE ratio of 29.63, a PEG ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a fifty-two week low of $279.40 and a fifty-two week high of $544.23. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83. The company’s 50-day moving average is $502.96 and its two-hundred day moving average is $491.30.

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

Meta Platforms Announces Dividend

The company 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 yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Insider Buying and Selling

In other news, CFO Susan J. Li sold 8,950 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total transaction of $4,714,502.00. Following the completion of the transaction, the chief financial officer now owns 74,579 shares of the company’s stock, valued at $39,285,234.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Jennifer Newstead sold 905 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $476.69, for a total value of $431,404.45. Following the completion of the sale, the insider now directly owns 42,370 shares in the company, valued at approximately $20,197,355.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at $39,285,234.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 418,680 shares of company stock worth $211,992,147. 13.71% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

META has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research note on Wednesday, July 24th. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Thursday, August 1st. KeyCorp lifted their target price on Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Jefferies Financial Group boosted their target price on shares of Meta Platforms from $565.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Citigroup lifted their target price on shares of Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Two research 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.