1776 Wealth LLC Has $673,000 Stake in Meta Platforms, Inc. (NASDAQ:META)

Key Points

• 1776 Wealth LLC significantly increased its stake in Meta Platforms, raising its ownership by 137.2% in the first quarter, now holding a total of 1,167 shares valued at approximately $673,000.
• Analysts have adjusted their price targets for Meta, with estimates ranging from $640.00 to $783.00, indicating a consensus target price of $752.33 and a general rating of "Moderate Buy."
• In insider trading news, Meta's CTO Andrew Bosworth and CFO Susan J. Li sold significant portions of their shares, contributing to overall insider sales totaling $105.8 million in the last three months.

1776 Wealth LLC raised its stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 137.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,167 shares of the social networking company's stock after acquiring an additional 675 shares during the period. 1776 Wealth LLC's holdings in Meta Platforms were worth $673,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in Meta Platforms by 1.7% in the fourth quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares during the period. Revolve Wealth Partners LLC increased its holdings in Meta Platforms by 10.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock valued at $5,537,000 after buying an additional 875 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Meta Platforms by 3.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock valued at $129,666,000 after buying an additional 7,587 shares in the last quarter. Highview Capital Management LLC DE increased its stake in shares of Meta Platforms by 3.7% during the 4th quarter. Highview Capital Management LLC DE now owns 6,189 shares of the social networking company's stock worth $3,624,000 after purchasing an additional 218 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Meta Platforms during the 4th quarter worth approximately $2,243,603,000. Institutional investors and hedge funds own 79.91% of the company's stock.

Insider Activity at Meta Platforms

In other Meta Platforms news, CEO Mark Zuckerberg sold 2,361 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $716.48, for a total value of $1,691,609.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $706.41, for a total transaction of $365,213.97. Following the completion of the transaction, the chief operating officer directly owned 6,302 shares of the company's stock, valued at $4,451,795.82. This trade represents a 7.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold 151,944 shares of company stock valued at $104,965,570 in the last quarter. Company insiders own 13.61% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on META. Sanford C. Bernstein raised their target price on shares of Meta Platforms from $700.00 to $775.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Evercore ISI lifted their target price on shares of Meta Platforms from $725.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Wedbush lifted their target price on shares of Meta Platforms from $680.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Moffett Nathanson lifted their price target 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. Finally, Susquehanna lowered their price objective on shares of Meta Platforms from $800.00 to $700.00 and set a "positive" rating for the company in a research report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $754.07.

Meta Platforms Stock Down 0.2%

Meta Platforms stock traded down $1.78 during trading hours on Tuesday, hitting $715.86. The company had a trading volume of 2,303,962 shares, compared to its average volume of 15,310,881. The firm has a market capitalization of $1.80 trillion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 1.71 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. The firm's fifty day moving average is $694.03 and its 200-day moving average is $642.71. Meta Platforms, Inc. has a fifty-two week low of $450.80 and a fifty-two week high of $747.90.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its earnings results on Wednesday, April 30th. The social networking company reported $6.43 EPS for the quarter, topping the consensus estimate of $5.33 by $1.10. The company 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 company's revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.71 earnings per share. On average, research analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share 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 issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is 8.19%.

About Meta Platforms

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.