Navis Wealth Advisors LLC purchased a new stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,436 shares of the social networking company's stock, valued at approximately $828,000. Meta Platforms makes up approximately 0.8% of Navis Wealth Advisors LLC's holdings, making the stock its 26th biggest holding.
A number of other institutional investors also recently modified their holdings of the business. Inlight Wealth Management LLC purchased a new stake in Meta Platforms in the 1st quarter worth approximately $25,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms in the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms in the 4th quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in Meta Platforms in the 4th quarter worth approximately $45,000. Finally, Stuart Chaussee & Associates Inc. purchased a new stake in Meta Platforms in the 4th quarter worth approximately $47,000. 79.91% of the stock is currently owned by hedge funds and other institutional investors.
Meta Platforms Trading Up 1.0%
META traded up $7.54 during trading on Friday, hitting $733.63. 18,758,104 shares of the stock traded hands, compared to its average volume of 14,525,798. The firm has a market capitalization of $1.84 trillion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 1.74 and a beta of 1.26. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a 50-day moving average of $633.87 and a 200 day moving average of $625.73. Meta Platforms, Inc. has a 12-month low of $442.65 and a 12-month high of $740.91.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, beating the consensus estimate of $5.33 by $1.10. The business had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.71 EPS. Equities research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current year.
Meta Platforms Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.29%. Meta Platforms's payout ratio is currently 8.19%.
Analyst Ratings Changes
META has been the topic of several recent analyst reports. Moffett Nathanson increased their target price on shares of Meta Platforms from $525.00 to $605.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. UBS Group reissued a "buy" rating and issued a $812.00 price target (up previously from $683.00) on shares of Meta Platforms in a report on Thursday. DA Davidson decreased their price target 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. Citigroup increased their price target on shares of Meta Platforms from $690.00 to $803.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Susquehanna decreased their price target on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating on the stock in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Meta Platforms has an average rating of "Moderate Buy" and an average target price of $719.52.
View Our Latest Stock Report on Meta Platforms
Insider Buying and Selling at Meta Platforms
In related news, CTO Andrew Bosworth sold 5,057 shares of the stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $3,334,383.52. Following the completion of the transaction, the chief technology officer now directly owns 16,463 shares of the company's stock, valued at $10,855,043.68. This represents a 23.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark Zuckerberg sold 1,462 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $701.13, for a total transaction of $1,025,052.06. Following the completion of the sale, the chief executive officer now owns 139,538 shares of the company's stock, valued at $97,834,277.94. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 124,831 shares of company stock valued at $83,868,872 in the last quarter. Company insiders own 13.61% 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.
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