Compass Advisory Group LLC Increases Stake in Meta Platforms, Inc. (NASDAQ:META)

Compass Advisory Group LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META) by 9.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 941 shares of the social networking company’s stock after purchasing an additional 85 shares during the quarter. Compass Advisory Group LLC’s holdings in Meta Platforms were worth $542,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in shares of Meta Platforms by 1.7% during the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company’s stock valued at $20,230,000 after acquiring an additional 570 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company’s stock valued at $5,537,000 after acquiring an additional 875 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of Meta Platforms by 3.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company’s stock valued at $129,666,000 after acquiring 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% during the 4th quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company’s stock valued at $3,624,000 after acquiring an additional 218 shares during the last quarter. Finally, Benchstone Capital Management LP purchased a new stake in shares of Meta Platforms during the 4th quarter valued at about $23,749,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Meta Platforms Stock Up 0.4%

Shares of META opened at $785.23 on Friday. The firm has a market capitalization of $1.97 trillion, a P/E ratio of 28.43, a P/E/G ratio of 1.63 and a beta of 1.27. Meta Platforms, Inc. has a 12-month low of $479.80 and a 12-month high of $796.25. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $724.43 and a 200-day moving average price of $655.43.

Meta Platforms (NASDAQ:META) last issued its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.75 by $1.39. The firm had revenue of $47.52 billion during the quarter, compared to analyst estimates of $44.55 billion. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The business’s revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm earned $5.16 earnings per share. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, June 16th. Meta Platforms’s payout ratio is presently 7.60%.

Analysts Set New Price Targets

META has been the topic of a number of recent analyst reports. Susquehanna dropped their price target on shares of Meta Platforms from $800.00 to $700.00 and set a “positive” rating on the stock in a report on Thursday, May 1st. Moffett Nathanson raised their price objective on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. The Goldman Sachs Group raised their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Truist Financial raised their price objective on shares of Meta Platforms from $700.00 to $720.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Finally, Citizens Jmp raised their price objective on shares of Meta Platforms from $750.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $822.41.

Insider Transactions at Meta Platforms

In related news, COO Javier Olivan sold 517 shares of Meta Platforms stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $770.00, for a total value of $398,090.00. Following the completion of the sale, the chief operating officer directly owned 4,751 shares in the company, valued at $3,658,270. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Christopher K. Cox sold 15,000 shares of Meta Platforms stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $767.80, for a total value of $11,517,000.00. Following the completion of the sale, the insider owned 222,205 shares of the company’s stock, valued at $170,608,999. The trade was a 6.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 269,243 shares of company stock valued at $200,605,051. Insiders own 13.61% of the company’s stock.

Meta Platforms 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.