My Legacy Advisors LLC Takes Position in Meta Platforms, Inc. (NASDAQ:META)

My Legacy Advisors LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,131 shares of the social networking company’s stock, valued at approximately $570,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC acquired a new stake in shares of Meta Platforms during the fourth quarter worth about $32,000. Clear Investment Research LLC lifted its holdings in Meta Platforms by 411.1% during the 4th quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Delos Wealth Advisors LLC boosted its position in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after buying an additional 58 shares during the period. Ruedi Wealth Management Inc. boosted its position in Meta Platforms by 122.2% in the 2nd quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after buying an additional 44 shares during the period. Finally, Richardson Financial Services Inc. grew its stake in Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after purchasing an additional 43 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Analysts Set New Price Targets

META has been the topic of a number of recent analyst reports. Needham & Company LLC reissued an “underperform” rating on shares of Meta Platforms in a research report on Thursday, August 1st. KeyCorp increased their price target on shares of Meta Platforms from $540.00 to $560.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. JMP Securities restated a “market outperform” rating and set a $525.00 price objective on shares of Meta Platforms in a research report on Tuesday, July 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $570.00 target price on shares of Meta Platforms in a research report on Thursday, August 1st. Finally, Robert W. Baird lifted their price target on shares of Meta Platforms from $500.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $574.41.

Meta Platforms Trading Down 0.7 %

NASDAQ:META opened at $528.00 on Friday. Meta Platforms, Inc. has a 1 year low of $276.03 and a 1 year 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 stock has a fifty day moving average price of $502.48 and a two-hundred day moving average price of $490.42. The stock has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 30.33, a PEG ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the firm posted $3.23 EPS. The business’s revenue was up 22.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Meta Platforms, Inc. will post 20.5 earnings per share for the current fiscal year.

Meta Platforms Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Friday, June 14th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. Meta Platforms’s payout ratio is 11.49%.

Insider Transactions at Meta Platforms

In related news, CTO Andrew Bosworth sold 5,057 shares of the firm’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 $2,663,825.32. Following the completion of the transaction, the chief technology officer now directly owns 11,990 shares of the company’s stock, valued at approximately $6,315,852.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CTO Andrew Bosworth sold 5,057 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $2,663,825.32. Following the sale, the chief technology officer now directly owns 11,990 shares in the company, valued at approximately $6,315,852.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction of $431,404.45. Following the transaction, the insider now owns 42,370 shares of the company’s stock, valued at $20,197,355.30. The disclosure for this sale can be found here. Insiders have sold 418,680 shares of company stock valued at $211,992,147 in the last quarter. 13.71% of the stock is currently owned by corporate insiders.

Meta Platforms Company 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.