Meta Platforms, Inc. (NASDAQ:META) Holdings Raised by Earned Wealth Advisors LLC

Earned Wealth Advisors LLC boosted its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 56.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,540 shares of the social networking company's stock after buying an additional 3,075 shares during the quarter. Meta Platforms makes up about 1.1% of Earned Wealth Advisors LLC's holdings, making the stock its 20th biggest position. Earned Wealth Advisors LLC's holdings in Meta Platforms were worth $4,922,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in META. Valley Financial Group Inc. increased its position in shares of Meta Platforms by 2.4% in the fourth quarter. Valley Financial Group Inc. now owns 588 shares of the social networking company's stock worth $344,000 after purchasing an additional 14 shares during the last quarter. Lantern Wealth Advisors LLC grew its position in Meta Platforms by 0.5% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,976 shares of the social networking company's stock valued at $1,743,000 after acquiring an additional 14 shares during the last quarter. ABLE Financial Group LLC grew its position in Meta Platforms by 0.7% during the fourth quarter. ABLE Financial Group LLC now owns 2,136 shares of the social networking company's stock valued at $1,251,000 after acquiring an additional 15 shares during the last quarter. Mosaic Family Wealth Partners LLC grew its position in Meta Platforms by 1.2% during the fourth quarter. Mosaic Family Wealth Partners LLC now owns 1,435 shares of the social networking company's stock valued at $840,000 after acquiring an additional 17 shares during the last quarter. Finally, Orin Green Financial LLC grew its position in Meta Platforms by 2.2% during the fourth quarter. Orin Green Financial LLC now owns 795 shares of the social networking company's stock valued at $465,000 after acquiring an additional 17 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company's stock.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 15,847 shares of Meta Platforms stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $753.43, for a total transaction of $11,939,605.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Andrew Bosworth sold 22,449 shares of Meta Platforms stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $636.85, for a total value of $14,296,645.65. Following the transaction, the chief technology officer directly owned 1,183 shares in the company, valued at approximately $753,393.55. The trade was a 94.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 260,024 shares of company stock valued at $188,466,159. Insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

NASDAQ META opened at $761.83 on Friday. The company has a market capitalization of $1.92 trillion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.60 and a beta of 1.27. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a 50-day moving average of $711.99 and a 200 day moving average of $649.96. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $784.75.

Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.75 by $1.39. The business had revenue of $47.52 billion for the quarter, compared to analysts' expectations of $44.55 billion. Meta Platforms had a return on equity of 39.33% and a net margin of 39.99%. The business's revenue for the quarter was up 21.6% on a year-over-year basis. During the same period last year, the firm posted $5.16 earnings per share. On average, sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 7.60%.

Analyst Ratings Changes

A number of brokerages have commented on META. Piper Sandler increased their price target on shares of Meta Platforms from $808.00 to $880.00 and gave the company an "overweight" rating in a research report on Thursday, July 31st. Guggenheim reiterated a "buy" rating and set a $800.00 price target (up from $725.00) on shares of Meta Platforms in a research report on Monday, July 28th. Citigroup reiterated an "outperform" rating on shares of Meta Platforms in a research report on Thursday, July 31st. Susquehanna reduced their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Finally, Sanford C. Bernstein increased their price target on shares of Meta Platforms from $775.00 to $900.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $822.41.

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.

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