Adapt Wealth Advisors LLC Makes New $243,000 Investment in Meta Platforms, Inc. (NASDAQ:META)

Adapt Wealth Advisors LLC purchased a new stake in Meta Platforms, Inc. (NASDAQ:METAFree Report) during the first quarter, Holdings Channel.com reports. The firm purchased 500 shares of the social networking company’s stock, valued at approximately $243,000.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Meta Platforms by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 186,349,346 shares of the social networking company’s stock worth $65,960,215,000 after acquiring an additional 3,104,550 shares in the last quarter. Capital World Investors increased its stake in Meta Platforms by 2.5% during the 4th quarter. Capital World Investors now owns 38,054,513 shares of the social networking company’s stock valued at $13,469,906,000 after purchasing an additional 927,491 shares in the last quarter. Capital International Investors raised its holdings in shares of Meta Platforms by 3.2% in the fourth quarter. Capital International Investors now owns 34,738,470 shares of the social networking company’s stock worth $12,296,383,000 after buying an additional 1,083,719 shares during the last quarter. Norges Bank acquired a new stake in shares of Meta Platforms during the fourth quarter worth $11,285,855,000. Finally, Capital Research Global Investors grew its holdings in shares of Meta Platforms by 17.2% during the fourth quarter. Capital Research Global Investors now owns 30,217,175 shares of the social networking company’s stock valued at $10,695,722,000 after buying an additional 4,440,229 shares during the last quarter. 79.91% of the stock is owned by institutional investors.

Insider Transactions at Meta Platforms

In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of Meta Platforms stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now directly owns 630,293 shares of the company’s stock, valued at approximately $300,466,976.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Sheryl Sandberg sold 105,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $476.71, for a total transaction of $50,054,550.00. Following the completion of the sale, the director now owns 630,293 shares in the company, valued at $300,466,976.03. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Andrew Bosworth sold 5,058 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $471.85, for a total transaction of $2,386,617.30. Following the completion of the transaction, the chief technology officer now owns 15,412 shares in the company, valued at $7,272,152.20. The disclosure for this sale can be found here. In the last three months, insiders sold 260,459 shares of company stock valued at $128,049,749. Insiders own 13.71% of the company’s stock.

Meta Platforms Price Performance

Meta Platforms stock opened at $530.00 on Wednesday. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The company’s 50 day moving average is $488.29 and its two-hundred day moving average is $464.16. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.12. The firm has a market cap of $1.34 trillion, a PE ratio of 30.44, a price-to-earnings-growth ratio of 1.37 and a beta of 1.21.

Meta Platforms (NASDAQ:METAGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The social networking company reported $4.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.39. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. The company had revenue of $36.46 billion for the quarter, compared to analyst estimates of $36.28 billion. On average, research analysts expect that Meta Platforms, Inc. will post 20.15 EPS for the current fiscal year.

Meta Platforms Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have commented on META shares. Barclays lowered their price target on Meta Platforms from $550.00 to $520.00 and set an “overweight” rating for the company in a research report on Thursday, April 25th. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 target price on shares of Meta Platforms in a report on Wednesday, June 12th. Raymond James increased their price target on shares of Meta Platforms from $550.00 to $600.00 and gave the stock a “strong-buy” rating in a report on Monday, July 1st. Piper Sandler restated an “overweight” rating and set a $545.00 price objective (down from $600.00) on shares of Meta Platforms in a research note on Thursday, April 25th. Finally, Stifel Nicolaus increased their price objective on shares of Meta Platforms from $527.00 to $588.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of “Moderate Buy” and an average target price of $511.88.

View Our Latest Stock Analysis on Meta Platforms

About Meta Platforms

(Free Report)

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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Institutional Ownership by Quarter for Meta Platforms (NASDAQ:META)

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