TRU Independence Asset Management 2 LLC Boosts Position in Meta Platforms, Inc. (NASDAQ:META)

TRU Independence Asset Management 2 LLC lifted its stake in shares of Meta Platforms, Inc. (NASDAQ:META) by 2.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,955 shares of the social networking company’s stock after acquiring an additional 60 shares during the period. Meta Platforms accounts for approximately 1.3% of TRU Independence Asset Management 2 LLC’s portfolio, making the stock its 23rd biggest position. TRU Independence Asset Management 2 LLC’s holdings in Meta Platforms were worth $1,703,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Inlight Wealth Management LLC purchased a new stake in Meta Platforms in the 1st quarter valued at about $25,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Meta Platforms in the 1st quarter valued at about $28,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms in the 4th quarter valued at about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Insider Buying and Selling at Meta Platforms

In other Meta Platforms news, insider Jennifer Newstead sold 519 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $721.57, for a total value of $374,494.83. Following the completion of the sale, the insider owned 27,107 shares in the company, valued at approximately $19,559,597.99. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Javier Olivan sold 517 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $717.51, for a total value of $370,952.67. Following the completion of the sale, the chief operating officer owned 7,336 shares of the company’s stock, valued at approximately $5,263,653.36. This represents a 6.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,263 shares of company stock worth $104,638,750. 13.61% of the stock is owned by insiders.

Meta Platforms Stock Performance

Shares of META opened at $720.92 on Tuesday. The stock has a 50 day moving average price of $677.20 and a 200 day moving average price of $635.41. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $1.81 trillion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.28. Meta Platforms, Inc. has a 52-week low of $442.65 and a 52-week high of $747.90.

Meta Platforms (NASDAQ:META) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $1.10. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm had revenue of $42.31 billion during the quarter, compared to the consensus estimate of $41.45 billion. During the same period in the prior year, the company posted $4.71 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. Research analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms’s dividend payout ratio is currently 8.19%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. DA Davidson reduced their price objective on shares of Meta Platforms from $800.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, April 14th. KeyCorp boosted their price objective on shares of Meta Platforms from $645.00 to $655.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. Needham & Company LLC raised Meta Platforms from an “underperform” rating to a “hold” rating in a research report on Thursday, July 3rd. Susquehanna dropped their target price on Meta Platforms from $800.00 to $700.00 and set a “positive” rating for the company in a research report on Thursday, May 1st. Finally, Scotiabank dropped their target price on Meta Platforms from $627.00 to $525.00 and set a “sector perform” rating for the company in a research report on Monday, April 21st. Five research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and a consensus target price of $729.38.

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.