Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by SOA Wealth Advisors LLC.

SOA Wealth Advisors LLC. lifted its position in Meta Platforms, Inc. (NASDAQ:META) by 15.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,950 shares of the social networking company’s stock after acquiring an additional 399 shares during the quarter. SOA Wealth Advisors LLC.’s holdings in Meta Platforms were worth $1,487,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Delos Wealth Advisors LLC increased its stake in shares of Meta Platforms by 527.3% during the first quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares during the period. Richardson Financial Services Inc. raised its holdings in shares of Meta Platforms by 95.6% in 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. Quest Partners LLC acquired a new stake in Meta Platforms during the fourth quarter valued at approximately $32,000. Kathleen S. Wright Associates Inc. bought a new stake in Meta Platforms during the first quarter worth approximately $44,000. Finally, Clear Investment Research LLC boosted its holdings in Meta Platforms by 411.1% during the fourth 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. Institutional investors own 79.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on META shares. UBS Group increased their price objective on Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Truist Financial lifted their price target on Meta Platforms from $535.00 to $570.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Tigress Financial boosted their price target on shares of Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday. Needham & Company LLC reaffirmed an “underperform” rating on shares of Meta Platforms in a research note on Thursday, August 1st. Finally, Susquehanna lifted their price objective on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “positive” rating in a research report on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Meta Platforms presently has a consensus rating of “Moderate Buy” and an average target price of $574.41.

Meta Platforms Trading Down 1.5 %

META stock traded down $7.90 during midday trading on Friday, hitting $529.43. 9,447,299 shares of the company’s stock were exchanged, compared to its average volume of 16,332,319. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81. The stock’s fifty day moving average price is $499.79 and its 200-day moving average price is $486.33. The company has a market cap of $1.34 trillion, a PE ratio of 30.39, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.68 and a current ratio of 2.83.

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

Meta Platforms Dividend Announcement

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

Insider Activity at Meta Platforms

In related news, CEO Mark Zuckerberg sold 16,702 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the sale, the chief executive officer now owns 72,473 shares in the company, valued at approximately $38,302,705.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Meta Platforms news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $533.95, for a total transaction of $483,224.75. Following the sale, the insider now directly owns 36,940 shares of the company’s stock, valued at approximately $19,724,113. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Zuckerberg sold 16,702 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $528.51, for a total transaction of $8,827,174.02. Following the completion of the transaction, the chief executive officer now owns 72,473 shares of the company’s stock, valued at $38,302,705.23. The disclosure for this sale can be found here. Insiders sold a total of 349,174 shares of company stock valued at $175,146,777 over the last quarter. 13.71% of the stock is 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.