395 Shares in Meta Platforms, Inc. (NASDAQ:META) Purchased by PTM Wealth Management LLC

Key Points

• PTM Wealth Management LLC has acquired 395 shares of Meta Platforms, Inc. (NASDAQ:META), valued at approximately $228,000, during the 1st quarter.
• Meta Platforms reported earnings of $7.14 per share for the last quarter, exceeding analyst estimates of $5.75, and experienced a revenue increase of 21.6% year-over-year to $47.52 billion.
• Recent analyst upgrades have raised the price targets for Meta Platforms, with Wedbush setting a new target at $920.00, highlighting strong confidence in the company's performance.

PTM Wealth Management LLC acquired a new position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 395 shares of the social networking company's stock, valued at approximately $228,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Meta Platforms by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock valued at $24,777,282,000 after buying an additional 1,049,121 shares during the last quarter. Capital World Investors increased its stake in shares of Meta Platforms by 2.9% in the fourth quarter. Capital World Investors now owns 40,317,105 shares of the social networking company's stock worth $23,606,338,000 after purchasing an additional 1,141,355 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Meta Platforms by 67,172.9% in the first quarter. GAMMA Investing LLC now owns 23,452,665 shares of the social networking company's stock worth $13,517,178,000 after purchasing an additional 23,417,803 shares in the last quarter. Northern Trust Corp increased its stake in shares of Meta Platforms by 13.5% in the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock worth $13,727,613,000 after purchasing an additional 2,787,832 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Meta Platforms by 2.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,007,308 shares of the social networking company's stock worth $7,030,399,000 after purchasing an additional 280,357 shares in the last quarter. Institutional investors own 79.91% of the company's stock.

Meta Platforms Trading Down 3.0%

NASDAQ META opened at $750.01 on Friday. The stock has a market capitalization of $1.89 trillion, a P/E ratio of 27.15, a PEG ratio of 1.84 and a beta of 1.27. Meta Platforms, Inc. has a 12 month low of $450.80 and a 12 month high of $784.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.97 and a quick ratio of 2.66. The firm's 50-day moving average is $701.68 and its two-hundred day moving average is $645.68.

Meta Platforms (NASDAQ:META - Get Free Report) last released its earnings results on Wednesday, July 30th. The social networking company reported $7.14 earnings per share for the quarter, topping analysts' consensus estimates of $5.75 by $1.39. Meta Platforms had a net margin of 39.99% and a return on equity of 39.33%. The firm had revenue of $47.52 billion for the quarter, compared to analyst estimates of $44.55 billion. During the same period in the prior year, the firm earned $5.16 earnings per share. The business's quarterly revenue was up 21.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.

Meta Platforms Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is presently 8.19%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Wedbush increased their price objective on shares of Meta Platforms from $750.00 to $920.00 and gave the company an "outperform" rating in a research report on Thursday. Canaccord Genuity Group increased their price objective on shares of Meta Platforms from $825.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Jefferies Financial Group lowered their target price on shares of Meta Platforms from $725.00 to $600.00 and set a "buy" rating for the company in a report on Monday, April 7th. KeyCorp raised their target price on shares of Meta Platforms from $800.00 to $905.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Raymond James Financial raised their target price on shares of Meta Platforms from $750.00 to $900.00 and gave the stock a "strong-buy" rating in a report on Thursday. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $820.32.

Insider Transactions at Meta Platforms

In related news, insider Jennifer Newstead sold 519 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $719.86, for a total transaction of $373,607.34. Following the completion of the sale, the insider directly owned 25,550 shares of the company's stock, valued at $18,392,423. This trade represents a 1.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Zuckerberg sold 2,361 shares of the firm's 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 disclosure for this sale can be found here. Insiders sold a total of 152,980 shares of company stock valued at $105,708,832 over the last ninety days. 13.61% of the stock is owned by insiders.

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.

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