Pandora Wealth Inc. Purchases Shares of 17,986 Meta Platforms, Inc. (NASDAQ:META)

Pandora Wealth Inc. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,986 shares of the social networking company's stock, valued at approximately $10,366,000. Meta Platforms accounts for about 6.8% of Pandora Wealth Inc.'s holdings, making the stock its 4th largest holding.

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

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Morgan Stanley raised their price target on Meta Platforms from $750.00 to $850.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Citigroup reissued an "outperform" rating on shares of Meta Platforms in a report on Thursday, July 31st. Wells Fargo & Company boosted their target price on shares of Meta Platforms from $783.00 to $811.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. JMP Securities upped their price target on shares of Meta Platforms from $750.00 to $900.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 31st. Finally, BMO Capital Markets lifted their price objective on shares of Meta Platforms from $610.00 to $710.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Four equities 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $822.41.

Meta Platforms Trading Down 1.3%

Shares of NASDAQ META opened at $780.08 on Thursday. The firm has a 50 day moving average price of $720.73 and a two-hundred day moving average price of $653.97. The stock has a market cap of $1.96 trillion, a P/E ratio of 28.24, a price-to-earnings-growth ratio of 1.64 and a beta of 1.27. Meta Platforms, Inc. has a 52-week low of $479.80 and a 52-week high of $795.46. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.97 and a current ratio of 1.97.

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

Meta Platforms Announces Dividend

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

Insider Buying and Selling

In other Meta Platforms news, insider Christopher K. Cox sold 15,000 shares of the firm'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 transaction of $11,517,000.00. Following the completion of the transaction, the insider owned 222,205 shares in the company, valued at approximately $170,608,999. This trade represents a 6.32% decrease in their position. 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 1,037 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $785.18, for a total transaction of $814,231.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 292,211 shares of company stock valued at $215,232,155. Insiders own 13.61% of the company's stock.

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.

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.