Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by Founders Financial Alliance LLC

Founders Financial Alliance LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 18.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,304 shares of the social networking company's stock after acquiring an additional 506 shares during the period. Founders Financial Alliance LLC's holdings in Meta Platforms were worth $1,904,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Summit Financial Strategies Inc. boosted its stake in shares of Meta Platforms by 12.3% during the first quarter. Summit Financial Strategies Inc. now owns 655 shares of the social networking company's stock valued at $378,000 after acquiring an additional 72 shares during the last quarter. Rezny Wealth Management Inc. lifted its position in Meta Platforms by 4.5% during the first quarter. Rezny Wealth Management Inc. now owns 3,314 shares of the social networking company's stock worth $1,910,000 after buying an additional 143 shares during the period. Integrity Financial Corp WA purchased a new position in Meta Platforms during the first quarter worth about $280,000. NS Partners Ltd lifted its position in Meta Platforms by 0.8% during the first quarter. NS Partners Ltd now owns 170,981 shares of the social networking company's stock worth $98,547,000 after buying an additional 1,425 shares during the period. Finally, Savvy Advisors Inc. lifted its position in Meta Platforms by 30.5% during the first quarter. Savvy Advisors Inc. now owns 10,536 shares of the social networking company's stock worth $6,073,000 after buying an additional 2,464 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Transactions at Meta Platforms

In other news, CEO Mark Zuckerberg sold 15,847 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $765.11, for a total value of $12,124,698.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher K. Cox sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $767.80, for a total value of $11,517,000.00. Following the completion of the sale, the insider owned 222,205 shares of the company's stock, valued at $170,608,999. This trade represents a 6.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 289,356 shares of company stock valued at $211,138,344 over the last 90 days. Insiders own 13.61% of the company's stock.

Meta Platforms Stock Performance

Meta Platforms stock opened at $790.00 on Wednesday. The stock has a market cap of $1.98 trillion, a P/E ratio of 28.60, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average of $718.89 and a 200-day moving average of $653.09. Meta Platforms, Inc. has a 52 week low of $479.80 and a 52 week high of $793.67.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, beating the consensus estimate of $5.75 by $1.39. The company had revenue of $47.52 billion during 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 was up 21.6% on a year-over-year basis. During the same period in the prior year, the business posted $5.16 EPS. On average, analysts expect that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is 7.60%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on META shares. Robert W. Baird increased their target price on Meta Platforms from $635.00 to $740.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Susquehanna reduced their target price on Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a research report on Thursday, May 1st. Monness Crespi & Hardt increased their target price on Meta Platforms from $780.00 to $860.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Cantor Fitzgerald increased their target price on Meta Platforms from $828.00 to $920.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Finally, TD Cowen raised their price objective on Meta Platforms from $800.00 to $875.00 and gave the stock a "buy" rating in a 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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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