Citrine Capital LLC Purchases New Stake in Meta Platforms, Inc. (NASDAQ:META)

Citrine Capital LLC acquired a new stake in Meta Platforms, Inc. (NASDAQ:META - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 982 shares of the social networking company's stock, valued at approximately $566,000. Meta Platforms comprises about 0.4% of Citrine Capital LLC's holdings, making the stock its 24th largest position.

Several other institutional investors also recently bought and sold shares of the company. Inlight Wealth Management LLC purchased a new stake in shares of Meta Platforms during the 1st quarter worth $25,000. Millstone Evans Group LLC purchased a new stake in Meta Platforms during the fourth quarter worth about $40,000. WealthTrak Capital Management LLC purchased a new stake in Meta Platforms during the fourth quarter worth about $43,000. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Meta Platforms during the fourth quarter worth about $45,000. Finally, Stuart Chaussee & Associates Inc. purchased a new position in Meta Platforms in the fourth quarter valued at about $47,000. 79.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on META shares. Morgan Stanley boosted their price target on Meta Platforms from $615.00 to $650.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Barclays lowered their target price on Meta Platforms from $705.00 to $640.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Truist Financial lifted their price target on Meta Platforms from $700.00 to $720.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. JMP Securities restated a "market outperform" rating and set a $750.00 target price on shares of Meta Platforms in a report on Wednesday, April 30th. Finally, Rosenblatt Securities lifted their target price on shares of Meta Platforms from $846.00 to $918.00 and gave the stock a "buy" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Meta Platforms currently has an average rating of "Moderate Buy" and an average price target of $715.76.

Meta Platforms Stock Up 2.5%

NASDAQ:META traded up $17.41 during trading hours on Thursday, hitting $726.09. The stock had a trading volume of 13,926,467 shares, compared to its average volume of 14,486,353. The company has a market cap of $1.83 trillion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 1.75 and a beta of 1.26. The business has a 50 day simple moving average of $629.38 and a two-hundred day simple moving average of $624.96. Meta Platforms, Inc. has a 1-year low of $442.65 and a 1-year high of $740.91. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last released its quarterly 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. Meta Platforms had a net margin of 39.11% and a return on equity of 38.69%. The business had revenue of $42.31 billion during the quarter, compared to analyst estimates of $41.45 billion. During the same period last year, the business earned $4.71 EPS. The business's revenue was up 16.1% on a year-over-year basis. Analysts predict that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Monday, June 16th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Insider Buying and Selling

In other Meta Platforms news, CEO Mark Zuckerberg sold 13,793 shares of Meta Platforms stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $710.24, for a total transaction of $9,796,340.32. Following the sale, the chief executive officer now directly owns 57,533 shares in the company, valued at $40,862,237.92. The trade was a 19.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Javier Olivan sold 608 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $563.03, for a total value of $342,322.24. Following the transaction, the chief operating officer now owns 6,230 shares of the company's stock, valued at approximately $3,507,676.90. This trade represents a 8.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 124,312 shares of company stock worth $83,503,034. 13.61% of the stock is currently owned by corporate insiders.

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.