Meta Platforms, Inc. (NASDAQ:META) Shares Purchased by Argentarii LLC

Argentarii LLC lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 20.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,797 shares of the social networking company's stock after acquiring an additional 808 shares during the period. Meta Platforms accounts for approximately 1.4% of Argentarii LLC's holdings, making the stock its 18th biggest holding. Argentarii LLC's holdings in Meta Platforms were worth $2,765,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms during the 1st quarter worth $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in Meta Platforms during the 1st quarter worth about $28,000. Millstone Evans Group LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $40,000. WealthTrak Capital Management LLC purchased a new position in Meta Platforms during the 4th quarter valued at about $43,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Meta Platforms in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 79.91% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on META shares. JPMorgan Chase & Co. lifted their price objective on shares of Meta Platforms from $735.00 to $795.00 and gave the company an "overweight" rating in a report on Friday. JMP Securities reiterated a "market outperform" rating and issued a $750.00 price target on shares of Meta Platforms in a report on Wednesday, April 30th. Scotiabank decreased 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. Citigroup raised their price target on Meta Platforms from $690.00 to $803.00 and gave the stock a "buy" rating in a report on Tuesday, June 24th. Finally, Morgan Stanley upped their price objective on shares of Meta Platforms from $615.00 to $650.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $729.38.

Insiders Place Their Bets

In related news, CEO Mark Zuckerberg sold 2,361 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total value of $1,691,609.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Newstead sold 519 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $721.57, for a total transaction of $374,494.83. Following the completion of the transaction, the insider directly owned 27,107 shares in the company, valued at approximately $19,559,597.99. This represents a 1.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 153,792 shares of company stock worth $105,466,325. Corporate insiders own 13.61% of the company's stock.

Meta Platforms Price Performance

Shares of META stock traded down $9.73 during trading hours on Friday, hitting $717.51. 10,855,962 shares of the company's stock were exchanged, compared to its average volume of 10,898,584. The firm has a 50 day moving average of $672.36 and a two-hundred day moving average of $633.41. Meta Platforms, Inc. has a fifty-two week low of $442.65 and a fifty-two week high of $747.90. The firm has a market cap of $1.80 trillion, a P/E ratio of 28.36, a P/E/G ratio of 1.78 and a beta of 1.28. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.16.

Meta Platforms (NASDAQ:META - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The social networking company reported $6.43 earnings per share for the quarter, topping 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 company had revenue of $42.31 billion during the quarter, compared to analysts' expectations of $41.45 billion. During the same period in the prior year, the business posted $4.71 earnings per share. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. Sell-side analysts forecast that Meta Platforms, Inc. will post 26.7 EPS for the current year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 0.29%. The ex-dividend date was Monday, June 16th. Meta Platforms's payout ratio is 8.19%.

Meta Platforms Company 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.