Delap Wealth Advisory LLC Acquires 3,757 Shares of Meta Platforms, Inc. (NASDAQ:META)

Delap Wealth Advisory LLC increased its holdings in shares of Meta Platforms, Inc. (NASDAQ:META) by 406.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,682 shares of the social networking company’s stock after acquiring an additional 3,757 shares during the quarter. Meta Platforms makes up about 0.9% of Delap Wealth Advisory LLC’s holdings, making the stock its 23rd largest position. Delap Wealth Advisory LLC’s holdings in Meta Platforms were worth $2,273,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Baird Financial Group Inc. raised its stake in shares of Meta Platforms by 24.2% in the fourth quarter. Baird Financial Group Inc. now owns 835,972 shares of the social networking company’s stock valued at $295,901,000 after buying an additional 163,067 shares during the period. California State Teachers Retirement System raised its stake in shares of Meta Platforms by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 3,576,285 shares of the social networking company’s stock valued at $1,265,862,000 after buying an additional 51,900 shares during the period. Donoghue Forlines LLC raised its stake in shares of Meta Platforms by 94.4% in the fourth quarter. Donoghue Forlines LLC now owns 8,349 shares of the social networking company’s stock valued at $2,955,000 after buying an additional 4,054 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Meta Platforms by 7.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 451,581 shares of the social networking company’s stock valued at $159,841,000 after buying an additional 32,423 shares during the period. Finally, Voyager Global Management LP raised its stake in shares of Meta Platforms by 37.3% in the fourth quarter. Voyager Global Management LP now owns 515,000 shares of the social networking company’s stock valued at $182,289,000 after buying an additional 140,000 shares during the period. 79.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on META shares. Truist Financial lowered their target price on Meta Platforms from $550.00 to $535.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Rosenblatt Securities increased their price objective on Meta Platforms from $520.00 to $562.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Jefferies Financial Group dropped their price objective on Meta Platforms from $585.00 to $540.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Benchmark reissued a “hold” rating on shares of Meta Platforms in a report on Thursday. Finally, Royal Bank of Canada dropped their price objective on Meta Platforms from $600.00 to $570.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Meta Platforms presently has an average rating of “Moderate Buy” and an average price target of $525.66.

Insiders Place Their Bets

In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the completion of the sale, the insider now owns 35,130 shares of the company’s stock, valued at $17,206,674. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Jennifer Newstead sold 905 shares of Meta Platforms stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $489.80, for a total value of $443,269.00. Following the completion of the sale, the insider now owns 35,130 shares of the company’s stock, valued at $17,206,674. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Javier Olivan sold 412 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $474.86, for a total value of $195,642.32. Following the sale, the chief operating officer now directly owns 5,971 shares of the company’s stock, valued at approximately $2,835,389.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,348 shares of company stock valued at $154,678,120. Corporate insiders own 13.71% of the company’s stock.

Meta Platforms Stock Up 3.4 %

NASDAQ:META traded up $15.38 during trading hours on Friday, reaching $468.79. 8,088,308 shares of the company traded hands, compared to its average volume of 16,154,090. The business’s 50-day moving average price is $493.33 and its two-hundred day moving average price is $473.80. The stock has a market capitalization of $1.19 trillion, a P/E ratio of 26.53, a P/E/G ratio of 1.19 and a beta of 1.21. Meta Platforms, Inc. has a 1 year low of $274.38 and a 1 year high of $542.81. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.12.

Meta Platforms (NASDAQ:META) last posted its earnings results on Wednesday, April 24th. The social networking company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $0.39. The business had revenue of $36.46 billion during the quarter, compared to analyst estimates of $36.28 billion. Meta Platforms had a return on equity of 32.03% and a net margin of 32.06%. Analysts predict that Meta Platforms, Inc. will post 20.23 earnings per share for the current year.

Meta Platforms Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Friday, June 14th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s payout ratio is 11.49%.

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.