Patriot Financial Group Insurance Agency LLC Has $6.74 Million Stock Holdings in Meta Platforms, Inc. (NASDAQ:META)

by · The Cerbat Gem

Patriot Financial Group Insurance Agency LLC boosted its position in shares of Meta Platforms, Inc. (NASDAQ:META – Free Report) by 21.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,365 shares of the social networking company’s stock after purchasing an additional 2,315 shares during the quarter. Meta Platforms accounts for about 1.0% of Patriot Financial Group Insurance Agency LLC’s investment portfolio, making the stock its 17th biggest holding. Patriot Financial Group Insurance Agency LLC’s holdings in Meta Platforms were worth $6,739,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Delos Wealth Advisors LLC grew its position 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 purchasing an additional 58 shares during the period. POM Investment Strategies LLC acquired a new position in shares of Meta Platforms in the second quarter valued at approximately $38,000. Ruedi Wealth Management Inc. increased its position in shares of Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after acquiring an additional 44 shares in the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Meta Platforms by 95.6% during the first 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 period. Finally, Quest Partners LLC bought a new stake in Meta Platforms in the 4th quarter valued at $32,000. Institutional investors own 79.91% of the company’s stock.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded down $4.44 during trading on Wednesday, reaching $514.66. The company’s stock had a trading volume of 3,919,641 shares, compared to its average volume of 16,047,599. The company has a quick ratio of 2.68, a current ratio of 2.83 and a debt-to-equity ratio of 0.12. The business’s 50-day moving average price is $503.64 and its 200-day moving average price is $492.02. Meta Platforms, Inc. has a 52 week low of $279.40 and a 52 week high of $544.23. The firm has a market cap of $1.31 trillion, a PE ratio of 29.81, a P/E/G ratio of 1.27 and a beta of 1.21.

Meta Platforms (NASDAQ:META – Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The firm had revenue of $39.07 billion during the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter in the previous year, the firm posted $3.23 EPS. The business’s revenue for the quarter was up 22.1% compared to the same quarter last year. Equities analysts forecast that Meta Platforms, Inc. will post 20.5 earnings per share for the current year.

Meta Platforms Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Investors 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 yield of 0.39%. The ex-dividend date of this dividend was Friday, June 14th. Meta Platforms’s dividend payout ratio is currently 11.49%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. KeyCorp increased their target price on Meta Platforms from $540.00 to $560.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Citigroup increased their price objective on Meta Platforms from $550.00 to $580.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. UBS Group boosted their target price on Meta Platforms from $630.00 to $635.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Sanford C. Bernstein raised their price target on shares of Meta Platforms from $565.00 to $575.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Finally, TD Securities boosted their price objective on shares of Meta Platforms from $530.00 to $600.00 in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $574.41.

View Our Latest Stock Report on META

Insider Buying and Selling at Meta Platforms

In related news, CEO Mark Zuckerberg sold 2,011 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the sale, the chief executive officer now owns 318,932 shares of the company’s stock, valued at $159,759,417.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Meta Platforms news, CEO Mark Zuckerberg sold 2,011 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $500.92, for a total transaction of $1,007,350.12. Following the completion of the transaction, the chief executive officer now directly owns 318,932 shares in the company, valued at $159,759,417.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 8,950 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the completion of the sale, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The disclosure for this sale can be found here. Insiders sold 329,890 shares of company stock valued at $170,604,385 in the last three months. Corporate insiders own 13.71% of the company’s stock.

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.

Further Reading

Want to see what other hedge funds are holding META? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Meta Platforms, Inc. (NASDAQ:META – Free Report).