Meta Platforms, Inc. (NASDAQ:META) Shares Acquired by ORBA Wealth Advisors L.L.C.

ORBA Wealth Advisors L.L.C. raised its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 125.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,094 shares of the social networking company’s stock after acquiring an additional 1,723 shares during the period. ORBA Wealth Advisors L.L.C.’s holdings in Meta Platforms were worth $1,560,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Baird Financial Group Inc. raised its holdings in Meta Platforms by 24.2% during the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock worth $295,901,000 after purchasing an additional 163,067 shares during the last quarter. California State Teachers Retirement System boosted its position in Meta Platforms by 1.5% during the 4th quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock worth $1,265,862,000 after purchasing an additional 51,900 shares during the period. Donoghue Forlines LLC grew its stake in shares of Meta Platforms by 94.4% in the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after buying an additional 4,054 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Meta Platforms by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after acquiring an additional 32,423 shares in the last quarter. Finally, Voyager Global Management LP grew its holdings in Meta Platforms by 37.3% during the 4th quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after purchasing an additional 140,000 shares in the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Price Performance

Shares of META traded down $2.51 during trading hours on Wednesday, hitting $526.03. 6,726,785 shares of the company were exchanged, compared to its average volume of 16,364,486. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.83 and a quick ratio of 2.68. The company has a market capitalization of $1.33 trillion, a PE ratio of 30.35, a PEG ratio of 1.27 and a beta of 1.21. The firm has a fifty day simple moving average of $498.29 and a 200-day simple moving average of $485.68. Meta Platforms, Inc. has a one year low of $274.38 and a one year high of $542.81.

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

Meta Platforms Dividend Announcement

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

Insider Activity at Meta Platforms

In other Meta Platforms news, COO Javier Olivan sold 412 shares of Meta Platforms stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $472.70, for a total transaction of $194,752.40. Following the transaction, the chief operating officer now directly owns 15,376 shares in the company, valued at approximately $7,268,235.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Jennifer Newstead sold 905 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total transaction of $423,150.85. Following the transaction, the insider now directly owns 43,275 shares in the company, valued at approximately $20,234,091.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Javier Olivan sold 412 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $472.70, for a total value of $194,752.40. Following the sale, the chief operating officer now owns 15,376 shares of the company’s stock, valued at $7,268,235.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 315,770 shares of company stock worth $157,719,910. 13.71% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on META. Roth Mkm boosted their price target on Meta Platforms from $510.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. UBS Group boosted their price target on Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JMP Securities reissued a “market outperform” rating and set a $525.00 target price on shares of Meta Platforms in a report on Tuesday, July 30th. Wolfe Research began coverage on shares of Meta Platforms in a report on Tuesday, July 16th. They issued an “outperform” rating and a $620.00 price target for the company. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $450.00 price objective on shares of Meta Platforms in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Meta Platforms has a consensus rating of “Moderate Buy” and a consensus price target of $572.51.

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.