Abundance Wealth Counselors Increases Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

Abundance Wealth Counselors increased its position in Meta Platforms, Inc. (NASDAQ:META) by 1.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,609 shares of the social networking company’s stock after acquiring an additional 72 shares during the quarter. Meta Platforms comprises about 1.3% of Abundance Wealth Counselors’ holdings, making the stock its 14th biggest holding. Abundance Wealth Counselors’ holdings in Meta Platforms were worth $2,828,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of META. Delos Wealth Advisors LLC raised its holdings in shares of Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock valued at $34,000 after acquiring an additional 58 shares in the last quarter. Richardson Financial Services Inc. lifted its holdings in shares of Meta Platforms by 95.6% during the 1st quarter. Richardson Financial Services Inc. now owns 88 shares of the social networking company’s stock worth $41,000 after acquiring an additional 43 shares during the last quarter. Quest Partners LLC purchased a new stake in Meta Platforms during the fourth quarter valued at about $32,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Meta Platforms during the 1st quarter valued at about $44,000. Finally, Clear Investment Research LLC grew its position in Meta Platforms by 411.1% during the fourth quarter. Clear Investment Research LLC now owns 92 shares of the social networking company’s stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Transactions at Meta Platforms

In other Meta Platforms news, Director Sheryl Sandberg sold 105,000 shares of the business’s 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 owns 630,293 shares of the company’s stock, valued at $300,466,976.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Jennifer Newstead sold 905 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $467.57, for a total value of $423,150.85. Following the completion of the transaction, the insider now owns 43,275 shares of the company’s stock, valued at approximately $20,234,091.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sheryl Sandberg sold 105,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $476.71, for a total value of $50,054,550.00. Following the sale, the director now directly owns 630,293 shares in the company, valued at $300,466,976.03. The disclosure for this sale can be found here. Insiders sold 349,174 shares of company stock worth $175,146,777 in the last three months. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Performance

NASDAQ:META traded down $10.10 on Friday, hitting $527.23. The stock had a trading volume of 6,494,364 shares, compared to its average volume of 16,307,933. The business’s 50-day simple moving average is $499.79 and its two-hundred day simple moving average is $486.33. The stock has a market cap of $1.34 trillion, a price-to-earnings ratio of 30.39, a price-to-earnings-growth ratio of 1.27 and a beta of 1.21. Meta Platforms, Inc. has a 52-week low of $274.38 and a 52-week high of $542.81. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last issued its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.46. The firm had revenue of $39.07 billion for the quarter, compared to analysts’ expectations of $38.26 billion. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The business’s quarterly revenue was up 22.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.23 EPS. As a group, research analysts predict that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Guggenheim raised their price target on Meta Platforms from $500.00 to $600.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada reissued an “outperform” rating and set a $570.00 price target on shares of Meta Platforms in a research report on Thursday, August 1st. Oppenheimer raised their price target on shares of Meta Platforms from $525.00 to $615.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. The Goldman Sachs Group upped their price objective on shares of Meta Platforms from $522.00 to $555.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Sanford C. Bernstein raised their target price on Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $574.41.

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.