B & T Capital Management DBA Alpha Capital Management trimmed its position in shares of Meta Platforms, Inc. (NASDAQ:META - Free Report) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,183 shares of the social networking company's stock after selling 821 shares during the quarter. Meta Platforms accounts for 1.6% of B & T Capital Management DBA Alpha Capital Management's portfolio, making the stock its 16th largest position. B & T Capital Management DBA Alpha Capital Management's holdings in Meta Platforms were worth $8,175,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in META. Coyle Financial Counsel LLC lifted its holdings in shares of Meta Platforms by 26.3% during the 1st quarter. Coyle Financial Counsel LLC now owns 1,538 shares of the social networking company's stock valued at $886,000 after purchasing an additional 320 shares in the last quarter. Berbice Capital Management LLC increased its stake in Meta Platforms by 4.3% during the 1st quarter. Berbice Capital Management LLC now owns 18,675 shares of the social networking company's stock worth $10,764,000 after purchasing an additional 770 shares in the last quarter. Grant GrossMendelsohn LLC acquired a new stake in Meta Platforms during the 1st quarter worth approximately $202,000. Riversedge Advisors LLC lifted its stake in Meta Platforms by 13.7% in the first quarter. Riversedge Advisors LLC now owns 1,660 shares of the social networking company's stock valued at $957,000 after buying an additional 200 shares in the last quarter. Finally, IFC Advisors LLC boosted its holdings in shares of Meta Platforms by 513.2% in the first quarter. IFC Advisors LLC now owns 2,882 shares of the social networking company's stock valued at $1,661,000 after buying an additional 2,412 shares during the period. Institutional investors and hedge funds own 79.91% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on META. Oppenheimer raised their price objective on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a report on Monday, June 16th. Raymond James Financial lowered their target price on Meta Platforms from $800.00 to $750.00 and set a "strong-buy" rating for the company in a report on Thursday, May 1st. TD Securities dropped their price target on Meta Platforms from $725.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $740.00 price objective on shares of Meta Platforms in a research report on Thursday, May 1st. Finally, Canaccord Genuity Group lifted their target price on Meta Platforms from $825.00 to $850.00 and gave the company a "buy" rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $736.05.
Check Out Our Latest Report on Meta Platforms
Insider Transactions at Meta Platforms
In other news, COO Javier Olivan sold 517 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $717.50, for a total transaction of $370,947.50. Following the completion of the transaction, the chief operating officer owned 6,819 shares of the company's stock, valued at approximately $4,892,632.50. This trade represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark Zuckerberg sold 2,361 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $716.48, for a total transaction of $1,691,609.28. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 153,764 shares of company stock valued at $105,721,208. Company insiders own 13.61% of the company's stock.
Meta Platforms Price Performance
NASDAQ:META traded up $2.87 on Friday, hitting $704.28. The company had a trading volume of 12,726,009 shares, compared to its average volume of 14,359,025. Meta Platforms, Inc. has a 52 week low of $442.65 and a 52 week high of $747.90. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 27.47, a PEG ratio of 1.72 and a beta of 1.28. The firm has a 50 day moving average of $683.85 and a two-hundred day moving average of $637.15.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $41.45 billion. During the same period in the prior year, the business earned $4.71 earnings per share. The company's revenue for the quarter was up 16.1% compared to the same quarter last year. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 earnings per share for the current year.
Meta Platforms Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Monday, June 16th were given a $0.525 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $2.10 annualized dividend and a yield of 0.30%. Meta Platforms's dividend payout ratio is presently 8.19%.
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.
Read More
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
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
