Assetmark Inc. lifted its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 814,412 shares of the social networking company's stock after purchasing an additional 26,226 shares during the period. Meta Platforms accounts for approximately 1.3% of Assetmark Inc.'s investment portfolio, making the stock its 16th biggest holding. Assetmark Inc.'s holdings in Meta Platforms were worth $469,395,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Inlight Wealth Management LLC bought a new position in shares of Meta Platforms in the 1st quarter valued at $25,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Meta Platforms in the 1st quarter valued at $28,000. Marshall & Sterling Wealth Advisors Inc. bought a new position in shares of Meta Platforms in the 4th quarter valued at $45,000. JCIC Asset Management Inc. increased its stake in shares of Meta Platforms by 102.6% in the 1st quarter. JCIC Asset Management Inc. now owns 79 shares of the social networking company's stock valued at $46,000 after purchasing an additional 40 shares during the last quarter. Finally, Stuart Chaussee & Associates Inc. bought a new position in shares of Meta Platforms in the 4th quarter valued at $47,000. Institutional investors own 79.91% of the company's stock.
Meta Platforms Price Performance
NASDAQ META traded down $23.43 during trading hours on Friday, hitting $750.01. The company had a trading volume of 18,985,910 shares, compared to its average volume of 15,659,175. Meta Platforms, Inc. has a 52 week low of $450.80 and a 52 week high of $784.75. The firm has a 50 day simple moving average of $699.22 and a 200 day simple moving average of $644.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.66 and a beta of 1.28.
Meta Platforms (NASDAQ:META - Get Free Report) last issued its 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 business had revenue of $47.52 billion during the quarter, compared to the consensus estimate of $44.55 billion. Meta Platforms had a return on equity of 40.31% and a net margin of 39.99%. The firm's revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the company earned $5.16 EPS. Equities research analysts expect that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Monday, June 16th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's dividend payout ratio (DPR) is currently 8.19%.
Insiders Place Their Bets
In related news, insider Jennifer Newstead sold 519 shares of Meta Platforms 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 owned 25,550 shares of the company's stock, valued at approximately $18,392,423. This trade represents a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 2,361 shares of Meta Platforms 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 worth $105,708,832 over the last three months. Corporate insiders own 13.61% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Roth Capital lifted their price target on Meta Platforms from $620.00 to $740.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Moffett Nathanson raised their price objective on Meta Platforms from $525.00 to $605.00 and gave the company a "buy" rating in a report on Thursday, May 1st. DA Davidson raised their price objective on Meta Platforms from $650.00 to $825.00 and gave the company a "buy" rating in a report on Thursday. JMP Securities raised their price objective on Meta Platforms from $750.00 to $900.00 and gave the company a "market outperform" rating in a report on Thursday. Finally, Morgan Stanley raised their price objective on Meta Platforms from $750.00 to $850.00 and gave the company an "overweight" rating in a report on Thursday. Four analysts have rated the stock with a hold rating, forty have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Meta Platforms has a consensus rating of "Moderate Buy" and a consensus price target of $815.09.
Get Our Latest Analysis 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.
See Also
Before you consider Meta Platforms, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Meta Platforms wasn't on the list.
While Meta Platforms currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
