Premier Path Wealth Partners LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 4.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 15,256 shares of the social networking company’s stock after acquiring an additional 593 shares during the period. Meta Platforms comprises 1.6% of Premier Path Wealth Partners LLC’s portfolio, making the stock its 8th biggest position. Premier Path Wealth Partners LLC’s holdings in Meta Platforms were worth $11,260,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of META. Pachira Investments Inc. increased its stake in Meta Platforms by 3.0% in the 2nd quarter. Pachira Investments Inc. now owns 488 shares of the social networking company’s stock worth $360,000 after buying an additional 14 shares during the period. Hemington Wealth Management boosted its position in Meta Platforms by 0.6% in the 2nd quarter. Hemington Wealth Management now owns 2,223 shares of the social networking company’s stock valued at $1,641,000 after buying an additional 14 shares during the period. Myecfo LLC grew its stake in Meta Platforms by 2.0% in the 2nd quarter. Myecfo LLC now owns 776 shares of the social networking company’s stock worth $573,000 after acquiring an additional 15 shares in the last quarter. Shelton Wealth Management LLC increased its position in shares of Meta Platforms by 0.9% during the second quarter. Shelton Wealth Management LLC now owns 1,764 shares of the social networking company’s stock worth $1,302,000 after acquiring an additional 15 shares during the period. Finally, Kooman & Associates raised its stake in shares of Meta Platforms by 2.8% during the second quarter. Kooman & Associates now owns 544 shares of the social networking company’s stock valued at $402,000 after acquiring an additional 15 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.
Meta Platforms Price Performance
NASDAQ META opened at $621.71 on Monday. The firm’s fifty day simple moving average is $726.22 and its two-hundred day simple moving average is $703.79. The firm has a market capitalization of $1.57 trillion, a P/E ratio of 27.46, a P/E/G ratio of 1.38 and a beta of 1.20. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 0.15. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 22nd were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, September 22nd. Meta Platforms’s dividend payout ratio (DPR) is currently 9.28%.
Insider Transactions at Meta Platforms
In other Meta Platforms news, COO Javier Olivan sold 517 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $656.00, for a total transaction of $339,152.00. Following the sale, the chief operating officer owned 7,441 shares of the company’s stock, valued at approximately $4,881,296. The trade was a 6.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Newstead sold 519 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $628.00, for a total transaction of $325,932.00. Following the transaction, the insider owned 27,237 shares in the company, valued at $17,104,836. The trade was a 1.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 75,281 shares of company stock worth $57,948,936. Insiders own 13.61% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on META shares. Scotiabank raised their price objective on Meta Platforms from $675.00 to $685.00 and gave the stock a “sector perform” rating in a report on Thursday, July 31st. Raymond James Financial reissued a “strong-buy” rating and set a $825.00 price target (down previously from $900.00) on shares of Meta Platforms in a research report on Thursday, October 30th. Cantor Fitzgerald decreased their price objective on Meta Platforms from $920.00 to $830.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. DA Davidson set a $825.00 price objective on shares of Meta Platforms in a research note on Thursday, October 30th. Finally, JPMorgan Chase & Co. cut their target price on shares of Meta Platforms from $875.00 to $800.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and an average price target of $827.60.
Check Out Our Latest Report on Meta Platforms
About Meta Platforms
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.
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