Aviso Wealth Management Has $7.92 Million Stake in Meta Platforms, Inc. (NASDAQ:META)

Key Points

• Aviso Wealth Management reduced its stake in Meta Platforms, Inc. by 3.1%, holding $7.92 million worth of shares, which accounts for 4.2% of its investment portfolio.
• Meta Platforms recently surpassed analysts' earnings expectations, reporting $7.14 EPS and revenue of $47.52 billion for the quarter.
• Wall Street analysts have shown optimism for Meta's future, with price targets now ranging from $700.00 to $930.00, indicating a consensus rating of "Moderate Buy."

Aviso Wealth Management decreased its stake in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,740 shares of the social networking company's stock after selling 437 shares during the period. Meta Platforms comprises about 4.2% of Aviso Wealth Management's investment portfolio, making the stock its 4th biggest holding. Aviso Wealth Management's holdings in Meta Platforms were worth $7,919,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Meta Platforms by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 42,317,434 shares of the social networking company's stock worth $24,777,282,000 after purchasing an additional 1,049,121 shares during the last quarter. Capital World Investors increased its position in 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 buying an additional 1,141,355 shares during the period. GAMMA Investing LLC lifted its stake in 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 valued at $13,517,178,000 after buying an additional 23,417,803 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Meta Platforms by 13.5% during the fourth quarter. Northern Trust Corp now owns 23,445,565 shares of the social networking company's stock valued at $13,727,613,000 after acquiring an additional 2,787,832 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Meta Platforms by 2.4% during 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 acquiring an additional 280,357 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company's stock.

Meta Platforms Trading Up 1.1%

Shares of META stock opened at $771.99 on Thursday. Meta Platforms, Inc. has a 12 month low of $479.80 and a 12 month high of $784.75. The company has a market cap of $1.94 trillion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 1.59 and a beta of 1.27. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.15. The business's 50 day moving average is $709.65 and its two-hundred day moving average is $648.93.

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

Meta Platforms Announces Dividend

The firm also recently announced 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 was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.3%. Meta Platforms's dividend payout ratio is presently 7.60%.

Insiders Place Their Bets

In other news, CEO Mark Zuckerberg sold 15,847 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $768.67, for a total value of $12,181,113.49. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $719.86, for a total transaction of $373,607.34. Following the transaction, the insider owned 25,550 shares of the company's stock, valued at approximately $18,392,423. The trade was a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 199,509 shares of company stock worth $141,509,323 in the last 90 days. 13.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on META. Wedbush lifted 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, July 31st. Cantor Fitzgerald lifted their price target on Meta Platforms from $828.00 to $920.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Pivotal Research boosted their price objective on Meta Platforms from $830.00 to $930.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. JMP Securities lifted their target price on Meta Platforms from $750.00 to $900.00 and gave the company a "market outperform" rating in a research note on Thursday, July 31st. Finally, BMO Capital Markets boosted their price target on Meta Platforms from $610.00 to $710.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. 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 company. According to data from MarketBeat, Meta Platforms has an average rating of "Moderate Buy" and a consensus target price of $822.41.

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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