Rowlandmiller & PARTNERS.ADV grew its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,195 shares of the social networking company’s stock after acquiring an additional 46 shares during the quarter. Rowlandmiller & PARTNERS.ADV’s holdings in Meta Platforms were worth $2,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock worth $20,230,000 after buying an additional 570 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock worth $5,537,000 after buying an additional 875 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of Meta Platforms by 3.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company’s stock worth $129,666,000 after buying an additional 7,587 shares during the last quarter. Highview Capital Management LLC DE boosted its holdings in shares of Meta Platforms by 3.7% in the 4th quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company’s stock worth $3,624,000 after buying an additional 218 shares during the last quarter. Finally, Triumph Capital Management boosted its holdings in shares of Meta Platforms by 6.0% in the 4th quarter. Triumph Capital Management now owns 1,846 shares of the social networking company’s stock worth $1,081,000 after buying an additional 105 shares during the last quarter. 79.91% of the stock is owned by hedge funds and other institutional investors.
Meta Platforms Trading Up 0.6%
Shares of META opened at $755.59 on Friday. The business’s 50-day moving average price is $741.83 and its 200-day moving average price is $661.92. Meta Platforms, Inc. has a twelve month low of $479.80 and a twelve month high of $796.25. The stock has a market cap of $1.90 trillion, a PE ratio of 27.36, a P/E/G ratio of 1.55 and a beta of 1.24. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15.
Meta Platforms Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.525 per share. The ex-dividend date is Monday, September 22nd. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. Meta Platforms’s dividend payout ratio is currently 7.60%.
Analyst Upgrades and Downgrades
META has been the topic of a number of research analyst reports. Bank of America boosted their price target on shares of Meta Platforms from $775.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Morgan Stanley boosted their price target on shares of Meta Platforms from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, July 31st. Roth Capital upped their price objective on shares of Meta Platforms from $620.00 to $740.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. HSBC raised shares of Meta Platforms from a “hold” rating to a “buy” rating and upped their price objective for the company from $610.00 to $900.00 in a report on Thursday, July 31st. Finally, Scotiabank upped their price objective on shares of Meta Platforms from $675.00 to $685.00 and gave the company a “sector perform” rating in a report on Thursday, July 31st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $822.41.
View Our Latest Research Report on META
Insider Buying and Selling
In other news, CTO Andrew Bosworth sold 11,694 shares of the company’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $775.00, for a total transaction of $9,062,850.00. Following the sale, the chief technology officer directly owned 1,799 shares in the company, valued at $1,394,225. This represents a 86.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Susan J. Li sold 18,332 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $764.71, for a total value of $14,018,663.72. Following the sale, the chief financial officer owned 84,141 shares in the company, valued at approximately $64,343,464.11. This represents a 17.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 283,280 shares of company stock valued at $214,119,908. Corporate insiders own 13.61% of the company’s stock.
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.
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