1858 Wealth Management LLC trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,834 shares of the social networking company's stock after selling 462 shares during the quarter. Meta Platforms makes up about 3.3% of 1858 Wealth Management LLC's investment portfolio, making the stock its 5th largest holding. 1858 Wealth Management LLC's holdings in Meta Platforms were worth $3,939,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in META. Inlight Wealth Management LLC bought a new position in Meta Platforms during the first quarter valued at about $25,000. Millstone Evans Group LLC acquired a new stake in Meta Platforms in the 4th quarter worth approximately $40,000. WealthTrak Capital Management LLC bought a new stake in Meta Platforms during the fourth quarter worth approximately $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the fourth quarter valued at approximately $45,000. Finally, Stuart Chaussee & Associates Inc. acquired a new position in Meta Platforms during the fourth quarter valued at approximately $47,000. 79.91% of the stock is currently owned by institutional investors and hedge funds.
Meta Platforms Price Performance
META traded up $7.54 during trading on Friday, hitting $733.63. The company's stock had a trading volume of 18,758,104 shares, compared to its average volume of 14,544,676. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 28.61, a price-to-earnings-growth ratio of 1.79 and a beta of 1.26. The firm's 50 day moving average price is $638.51 and its two-hundred day moving average price is $626.52. 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 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 company had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. Meta Platforms had a return on equity of 38.69% and a net margin of 39.11%. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company posted $4.71 earnings per share. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 earnings per share for the current fiscal year.
Meta Platforms Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's dividend payout ratio is presently 8.19%.
Insider Transactions at Meta Platforms
In other Meta Platforms news, COO Javier Olivan sold 608 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $488.18, for a total transaction of $296,813.44. Following the transaction, the chief operating officer now owns 5,622 shares of the company's stock, valued at approximately $2,744,547.96. This represents a 9.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Susan J. Li sold 6,874 shares of Meta Platforms stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $659.36, for a total value of $4,532,440.64. Following the completion of the sale, the chief financial officer now directly owns 70,040 shares of the company's stock, valued at $46,181,574.40. This trade represents a 8.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 124,831 shares of company stock worth $83,868,872. Corporate insiders own 13.61% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Guggenheim boosted their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Scotiabank cut their target price on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating for the company in a research report on Monday, April 21st. DA Davidson decreased their price target on shares of Meta Platforms from $800.00 to $650.00 and set a "buy" rating for the company in a report on Monday, April 14th. Oppenheimer lifted their price objective on Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th. Finally, Loop Capital increased their target price on Meta Platforms from $695.00 to $888.00 and gave the company a "buy" rating in a research note on Friday, May 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $719.52.
Check Out Our Latest Stock Report on Meta Platforms
Meta Platforms Profile
(
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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