Baskin Financial Services Inc. lifted its holdings in Meta Platforms, Inc. (NASDAQ:META - Free Report) by 10.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 36,450 shares of the social networking company's stock after buying an additional 3,379 shares during the quarter. Meta Platforms makes up 1.7% of Baskin Financial Services Inc.'s portfolio, making the stock its 28th biggest position. Baskin Financial Services Inc.'s holdings in Meta Platforms were worth $21,008,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of META. Opulen Financial Group LLC bought a new stake in Meta Platforms in the 4th quarter valued at about $325,000. Brighton Jones LLC lifted its position in Meta Platforms by 1.7% in the 4th quarter. Brighton Jones LLC now owns 34,551 shares of the social networking company's stock valued at $20,230,000 after purchasing an additional 570 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Meta Platforms by 10.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 9,456 shares of the social networking company's stock worth $5,537,000 after buying an additional 875 shares in the last quarter. SOA Wealth Advisors LLC. raised its position in shares of Meta Platforms by 5.5% during the 4th quarter. SOA Wealth Advisors LLC. now owns 3,397 shares of the social networking company's stock worth $1,989,000 after buying an additional 178 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG raised its position in shares of Meta Platforms by 3.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,459 shares of the social networking company's stock worth $129,666,000 after buying an additional 7,587 shares in the last quarter. 79.91% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Meta Platforms
In other Meta Platforms news, COO Javier Olivan sold 517 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $740.97, for a total transaction of $383,081.49. Following the sale, the chief operating officer owned 7,853 shares of the company's stock, valued at $5,818,837.41. This represents a 6.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jennifer Newstead sold 519 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $737.00, for a total transaction of $382,503.00. Following the sale, the insider directly owned 27,626 shares in the company, valued at approximately $20,360,362. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,756 shares of company stock valued at $104,720,878 in the last 90 days. 13.61% of the stock is currently owned by company insiders.
Meta Platforms Stock Performance
META stock traded down $0.09 on Tuesday, reaching $718.27. 1,517,834 shares of the company were exchanged, compared to its average volume of 15,904,232. Meta Platforms, Inc. has a 12 month low of $442.65 and a 12 month high of $747.90. The stock's fifty day moving average price is $662.26 and its 200 day moving average price is $631.21. The firm has a market capitalization of $1.81 trillion, a PE ratio of 28.01, a PEG ratio of 1.76 and a beta of 1.28. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.66 and a quick ratio of 2.66.
Meta Platforms (NASDAQ:META - Get Free Report) last announced its earnings results on Wednesday, April 30th. The social networking company reported $6.43 earnings per share (EPS) 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 business had revenue of $42.31 billion for the quarter, compared to analyst estimates of $41.45 billion. During the same quarter in the previous year, the firm posted $4.71 earnings per share. Meta Platforms's revenue was up 16.1% compared to the same quarter last year. On average, research analysts anticipate that Meta Platforms, Inc. will post 26.7 EPS for the current fiscal year.
Meta Platforms Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Shareholders 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 of this dividend was Monday, June 16th. Meta Platforms's dividend payout ratio (DPR) is presently 8.19%.
Analysts Set New Price Targets
A number of research firms have commented on META. Cantor Fitzgerald boosted their price target on shares of Meta Platforms from $676.00 to $807.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 18th. Guggenheim lifted their price objective on shares of Meta Platforms from $675.00 to $725.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Oppenheimer lifted their price objective on shares of Meta Platforms from $665.00 to $775.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th. Scotiabank lowered their price objective on shares of Meta Platforms from $627.00 to $525.00 and set a "sector perform" rating on the stock in a research note on Monday, April 21st. Finally, The Goldman Sachs Group lifted their price objective on shares of Meta Platforms from $685.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Five research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Meta Platforms currently has a consensus rating of "Moderate Buy" and an average price target of $722.12.
Check Out Our Latest Report on Meta Platforms
Meta Platforms Company 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.
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