Fiduciary Wealth Partners LLC Buys Shares of 520 Meta Platforms, Inc. (NASDAQ:META)

Key Points

• Fiduciary Wealth Partners LLC acquired 520 shares of Meta Platforms, Inc. in Q1, valued at approximately $300,000, making it 0.3% of its total holdings.
• Meta Platforms reported $7.14 EPS for the last quarter, exceeding estimates by $1.39, alongside a revenue of $47.52 billion, up 21.6% year-over-year.
• The company declared a quarterly dividend of $0.525 per share, representing an annualized yield of 0.3% and a payout ratio of 7.60%.

Fiduciary Wealth Partners LLC purchased a new position in Meta Platforms, Inc. (NASDAQ:META - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 520 shares of the social networking company's stock, valued at approximately $300,000. Meta Platforms comprises approximately 0.3% of Fiduciary Wealth Partners LLC's holdings, making the stock its 26th largest position.

A number of other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake 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 buying an additional 570 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Meta Platforms by 10.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after purchasing an additional 875 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in shares of Meta Platforms by 3.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock worth $129,666,000 after acquiring an additional 7,587 shares during the last quarter. Highview Capital Management LLC DE raised its position in shares of Meta Platforms by 3.7% in 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 acquiring an additional 218 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Meta Platforms during the fourth quarter worth approximately $2,243,603,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. DA Davidson boosted their price target on Meta Platforms from $650.00 to $825.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Hsbc Global Res upgraded Meta Platforms from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 31st. Monness Crespi & Hardt boosted their target price on shares of Meta Platforms from $780.00 to $860.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Morgan Stanley lifted their target price on shares of Meta Platforms from $750.00 to $850.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Finally, Barclays boosted their price target on shares of Meta Platforms from $640.00 to $810.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $822.41.

Meta Platforms Trading Up 1.1%

Shares of META stock traded up $8.53 during trading hours on Wednesday, reaching $771.99. The company's stock had a trading volume of 9,653,883 shares, compared to its average volume of 13,549,258. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.94 trillion, a P/E ratio of 27.95, a P/E/G ratio of 1.59 and a beta of 1.27. The firm's fifty day simple moving average is $707.08 and its 200 day simple moving average is $648.07. Meta Platforms, Inc. has a one year low of $479.80 and a one year high of $784.75.

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

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio is 7.60%.

Insider Activity

In other news, CTO Andrew Bosworth sold 22,449 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $636.85, for a total transaction of $14,296,645.65. Following the sale, the chief technology officer owned 1,183 shares in the company, valued at $753,393.55. This represents a 94.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Mark Zuckerberg sold 15,847 shares of the firm's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $753.43, for a total transaction of $11,939,605.21. The disclosure for this sale can be found here. Insiders sold 167,815 shares of company stock valued at $117,135,845 in the last three months. Company insiders own 13.61% of the company's stock.

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.