CWC Advisors LLC. Makes New Investment in Meta Platforms, Inc. (NASDAQ:META)

CWC Advisors LLC. acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,112 shares of the social networking company's stock, valued at approximately $641,000.

Other large investors also recently added to or reduced their stakes in the company. Suvretta Capital Management LLC grew its position in Meta Platforms by 1.1% during the fourth quarter. Suvretta Capital Management LLC now owns 170,338 shares of the social networking company's stock valued at $99,735,000 after purchasing an additional 1,850 shares in the last quarter. Skye Global Management LP boosted its stake in shares of Meta Platforms by 130.9% during the 4th quarter. Skye Global Management LP now owns 76,200 shares of the social networking company's stock valued at $44,616,000 after buying an additional 43,200 shares during the period. Brueske Advisory Services LLC purchased a new position in shares of Meta Platforms during the 4th quarter valued at $459,000. Kovitz Investment Group Partners LLC grew its holdings in shares of Meta Platforms by 255.9% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,709,694 shares of the social networking company's stock valued at $1,001,044,000 after acquiring an additional 1,229,350 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Meta Platforms by 1.7% in the fourth quarter. Fisher Asset Management LLC now owns 6,675,174 shares of the social networking company's stock worth $3,908,382,000 after acquiring an additional 110,040 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

META has been the subject of a number of research reports. Evercore ISI lifted their price objective on Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company reaffirmed an "overweight" rating and set a $664.00 price target on shares of Meta Platforms in a research note on Tuesday, June 17th. JMP Securities reiterated a "market outperform" rating and set a $750.00 price target on shares of Meta Platforms in a report on Wednesday, April 30th. DA Davidson lowered their price target on Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Loop Capital increased their price objective on Meta Platforms from $695.00 to $888.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Five analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $719.29.

Meta Platforms Stock Performance

Shares of Meta Platforms stock traded up $3.34 during midday trading on Thursday, hitting $716.91. The company had a trading volume of 8,601,653 shares, compared to its average volume of 14,572,054. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $747.90. The business's 50 day simple moving average is $651.82 and its two-hundred day simple moving average is $628.50. The stock has a market cap of $1.80 trillion, a PE ratio of 27.96, a P/E/G ratio of 1.75 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.

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

Meta Platforms Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's payout ratio is presently 8.19%.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total value of $1,691,609.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Javier Olivan sold 517 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $740.97, for a total value of $383,081.49. Following the completion of the sale, the chief operating officer owned 7,853 shares of the company's stock, valued at $5,818,837.41. This represents a 6.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 154,285 shares of company stock valued at $105,518,153 over the last three months. 13.61% of the stock is owned by corporate insiders.

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.