Meta Platforms, Inc. (NASDAQ:META) Stake Lifted by SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co

Key Points

• SHEPHERD WEALTH MANAGEMENT Ltd Liability Co increased its stake in Meta Platforms by 26.0%, holding 10,449 shares valued at $6,022,000, making it the 8th largest position in their portfolio.
• Meta Platforms reported strong earnings for the quarter, achieving a $7.14 EPS which exceeded consensus estimates by $1.39 and generated revenue of $47.52 billion, up 21.6% year-over-year.
• The company announced a quarterly dividend of $0.525 per share, reflecting an annual yield of 0.3% and a low dividend payout ratio of 7.60%.

SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co lifted its holdings in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 26.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,449 shares of the social networking company's stock after buying an additional 2,154 shares during the period. Meta Platforms comprises 6.2% of SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co's holdings, making the stock its 8th largest position. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co's holdings in Meta Platforms were worth $6,022,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Inlight Wealth Management LLC bought a new stake in shares of Meta Platforms in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Meta Platforms in the 1st quarter valued at about $28,000. MJT & Associates Financial Advisory Group Inc. bought a new position in Meta Platforms in the 1st quarter valued at about $33,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in Meta Platforms in the 4th quarter valued at about $45,000. Finally, JCIC Asset Management Inc. raised its holdings in Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after acquiring an additional 40 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.

Meta Platforms Stock Up 0.4%

Shares of NASDAQ:META traded up $3.10 during midday trading on Friday, hitting $785.23. 13,361,371 shares of the company's stock were exchanged, compared to its average volume of 12,931,265. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a 50 day moving average price of $724.43 and a 200-day moving average price of $655.43. The company has a market cap of $1.97 trillion, a PE ratio of 28.43, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $796.25.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, July 30th. The social networking company reported $7.14 EPS for the quarter, topping the consensus estimate of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The company had revenue of $47.52 billion during the quarter, compared to the consensus estimate of $44.55 billion. During the same period in the previous year, the firm posted $5.16 earnings per share. The firm's revenue for the quarter was up 21.6% on a year-over-year basis. On average, sell-side analysts anticipate 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. Investors of record on Monday, June 16th were issued a dividend of $0.525 per share. The ex-dividend date was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's payout ratio is 7.60%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. HSBC upgraded shares of Meta Platforms from a "hold" rating to a "buy" rating and increased their target price for the stock from $610.00 to $900.00 in a research report on Thursday, July 31st. BMO Capital Markets increased their price target on shares of Meta Platforms from $610.00 to $710.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Monness Crespi & Hardt raised their target price on shares of Meta Platforms from $780.00 to $860.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Rosenblatt Securities raised their price target on shares of Meta Platforms from $846.00 to $918.00 and gave the company a "buy" rating in a research note on Thursday, May 1st. Finally, Needham & Company LLC raised shares of Meta Platforms from an "underperform" rating to a "hold" rating in a research note on Thursday, July 3rd. Four research 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, the company has an average rating of "Moderate Buy" and an average target price of $822.41.

Insider Activity

In related news, insider Christopher K. Cox sold 60,000 shares of the business's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $775.95, for a total transaction of $46,557,000.00. Following the transaction, the insider directly owned 237,205 shares in the company, valued at approximately $184,059,219.75. The trade was a 20.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark Zuckerberg sold 15,847 shares of the business's 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 269,243 shares of company stock worth $200,605,051. 13.61% of the stock is owned by corporate insiders.

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.