Detalus Advisors LLC Invests $289,000 in Meta Platforms, Inc. (NASDAQ:META)

Detalus Advisors LLC purchased a new position in shares of Meta Platforms, Inc. (NASDAQ:META) during the second quarter, HoldingsChannel reports. The fund purchased 574 shares of the social networking company’s stock, valued at approximately $289,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Delos Wealth Advisors LLC increased its stake 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 last quarter. POM Investment Strategies LLC acquired a new stake in Meta Platforms in the 2nd quarter valued at $38,000. Ruedi Wealth Management Inc. increased its stake 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 last quarter. Richardson Financial Services Inc. increased its stake in Meta Platforms by 95.6% in the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock valued at $41,000 after buying an additional 43 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in Meta Platforms in the 4th quarter valued at $32,000. 79.91% of the stock is owned by institutional investors.

Meta Platforms Price Performance

Shares of Meta Platforms stock traded down $2.32 on Wednesday, reaching $516.78. 9,075,556 shares of the stock were exchanged, compared to its average volume of 16,078,506. The firm’s 50 day moving average is $503.64 and its 200-day moving average is $492.02. Meta Platforms, Inc. has a one year low of $279.40 and a one 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 firm has a market cap of $1.31 trillion, a PE ratio of 29.81, a P/E/G ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings results on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping 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 company had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the prior year, the firm posted $3.23 EPS. The firm’s quarterly revenue was up 22.1% on a year-over-year basis. As a group, analysts anticipate that Meta Platforms, Inc. will post 20.5 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Friday, June 14th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Friday, June 14th. Meta Platforms’s dividend payout ratio is 11.49%.

Insider Buying and Selling

In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total transaction of $431,685.00. Following the completion of the transaction, the insider now directly owns 41,465 shares in the company, valued at approximately $19,778,805. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $531.46, for a total value of $8,876,444.92. Following the completion of the transaction, the chief executive officer now directly owns 11,384 shares in the company, valued at approximately $6,050,140.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $477.00, for a total transaction of $431,685.00. Following the completion of the transaction, the insider now owns 41,465 shares of the company’s stock, valued at $19,778,805. The disclosure for this sale can be found here. Insiders sold a total of 329,890 shares of company stock worth $170,604,385 in the last three months. 13.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on META shares. Citigroup lifted their price target on shares of Meta Platforms from $550.00 to $580.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley boosted their price objective on shares of Meta Platforms from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their price objective on shares of Meta Platforms from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. KeyCorp boosted their price objective on shares of Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, JMP Securities restated a “market outperform” rating and set a $525.00 price objective on shares of Meta Platforms in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $574.41.

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.